I keep getting this error message saying I need Jave 6.0 or higher when I try to launch LimeWire but I've installed Java 7 and it keeps giving me the same message. It's weird because the other night when I installed it the program worked fine, it was the next morning it started doing this. How do I fix this?

You will need LimeStart to by-pass the launch directly issue with Java 7.
You can find a copy of LimeStart here. From the options of which version of LW to install it for, choose carefully so it replaces the original shortcuts for both Desktop & Start menu.

I didn't know there were penquins in the middle of the ocean!
Are you still out there giving good advice?

I am still around & try to help where I can.

As for the thread topic, I strangely did not have the same problem with running LW5/LPE on Linux with Oracle's Java 7 (only had problem with the Linux open-source 'IcedTea' version Java), so obviously the Linux version of LW 5 properly references Java 7 to open directly & work properly with it.
The Windows & MacOSX versions of LW 5 / LPE really need to be recompiled after a look at how the Linux version does it.