Ok. So . . . I have somehow actually managed to fix my little issue. To possibly help others I'll post below what I did to fix it but keep in mind that a lot of what I've done most likely didn't do anything at all.

I tried to reinstall the java as instructed but it said there was no java to update so . . . I dropped this idea and moved on to the next thing.

I then restarted my computer but to no avail, the program still didn't work.

I had a friend send me a 4.11 and 4.9 that had worked on my computer previously. Neither of these would actually open, they'd just hop up and down in the dock for a bit and would then disappear. This is worse that the issue I was having before.

Eventually I went throughout my computer using Spotlight and the keyword "Limewire" and deleted anything that it came up with. I then proceeded to empty my trash can.

Finally, I went to www.apple.com and downloaded the Security Update 2006-04 (PowerPC) that I believe screwed everything up to begin with. People using another program had the same sort of issues once they d/l the update the first time and they fixed it by using the standalone update and reinstalling the program. Thinking this might work in my sitch too, I gave it a shot. Lo and behold, it worked. I had tried this earlier today but I didn't delete EVERY single file/folder that had limewire in the name first. This may or may not have made a difference but when I deleted all the files first and THEN did the update again, it worked.

I really and truly believe however, that the reason my mini decided to step into gear and work is because I verbally threatened to reinstall it's OS if it didn't behave. This theory seems to make the most logical sense to me. Just threaten your computer first and it will straighten up.

Good luck to everyone else who's having the same issue . . . I think there are some more of you out there.