The Saved Files &
individually shared files folders are both pseudo folders. They are both the same as the
Shared folder (in most cases.) Click on
Shared Files folder & press Explore button & you will find yourself at the LW main download folder.

The folders initially mentioned are just for LW to show you which files are
shared & which are not & which were most recently downloaded files.
Apparently LW doesn't like to play files that are not
shared. Thus you may need to Share them to play them depending on your set up. I don't think the Playlist function works with unshared files for example from memory (off-hand memory.) But certainly for other types of files I can launch them when using the default application program regardless if they are
shared or not.
Files that are
RED usually means they are not being
shared. Those that are black are being
shared.
Sharing options can be changed a few ways. Manually by right-clicking the file in the Library window & choosing to share. Another way is to automatically share new downloads. LW's menu bar,
Tools -> Options -> Shared tab will have an option at bottom of window of whether to share files immediately or not after finished downloading.
BTW the new LW saves files differently. See
http://www.gnutellaforums.com/window...downloads.html