All of my saved files are red but they still play.I have downloaded more since then and they will end up red also.Can you help me?

Red means they are not being shared. One way to fix it is to go to LW's menu bar, Tools > Options > Sharing & click option to share files downloaded immediately.
Else you can right-click the folder or files in Library window & choose Share.

I am having the same problem. I recently moved all files to an external drive. I then upgraded to the latest limewire basic. I shared the folder, but it is only sharing some of the files. Like 14 of over 500. I have tried re sharing the folder and also tried right clicking on files and sharing them, but to no avail. Any ideas?
Thanks

Incomplete files should not be shared per se so make sure they are not the ones you shared.

It may take time for the files to be shared. If many, it can take perhaps a couple of hours for the program to register them all. Also, check your share options, some shared extensions might be missing.

Thank You for the reply. That is what happened. It took about 6 hours but it finally shared them all. Then my new drive died and I lost all the files. Time to pull out the back ups.