First thing to try is delete LW's preferences folder when LW's properly closed. See point 3 here & also point 2 if you've used older versions of LW in the past (there could be a folder in either location).
Fixes for LimeWire
This will kill all of your settings within options, you'll have to go back through afterwards & reset things. If you're not sure of your settings, go through LW's tools > options & write them all down, so that you can reset things later

In LW file > disconnect. Wait a few minutes, then file > connect.

In LW tools > options > advanced > firewall config. Change LW's listening port to 64049 > apply > ok. You can also try other ports in the range of 49152 - 65535.

Were you using that version of Java before, when LW was connecting? If so, try reinstalling this version. Download the JRE offline installer & remove your current Java before you install the new version.
Java SE Downloads
If that doesn't help, or if you weren't using Java update 1 before, try this older Java. Some people have had probs with the latest updates. Same deal here...download the JRE offline installer & remove any other Java versions before installing this one.
Archive: Download Java 2 Platform Standard Edition (J2SE) 5.0 Update 11

Otherwise...must be Telstra's fault Just kidding!