why are some entries on the library list red?

They are not being shared on the network. ... probably because you have just started Limewire, They should all turn black as soon as your shared items are all on the network. If you are asking about the incomplete files, some will stay red, meaning that if you try to resume them they will start again from zero ... I think and I'm not quite sure why!

[SIZE=1][COLOR=deeppink]thnx! i'm new to limewire & hope 2 get the hang of it soon!

no problem anything else just ask...

Under the uploads column where it has

ex: 36/146
3/50
1/1
0/0

What does that mean exactly?

The second number is the number of times hosts have tried to upload a file , the first is the number of successful uploads. These can be missleading as all numbers could relate to one upload that has been continually halted for whatever reason. The successful uploads can in practice often be partial downloads.

I THINK I have explained this about right. That's the way I see it anyway.

The 0/0 means this. The 1st 0 represents the number of full uploads for that file during your current session. The 2nd 0 represents partial uploads of that file during your current session.
The partial uploads come from when a host that is downloading a file has multiple hosts to upload from, and your file is one of them. The downloading host gets the piece of the file it needs from you and the other pieces from hosts that are uploading it also, thus creating what is known as the swarming effect.

Got it! Thanks.

Now when and why does a "hit" get registered?

I'm not sure if it's when your file comes up on someone's seach or if someone actually clicks on the file.

The hits are when your shared file is returned in another host's search.

it's when it comes up in a search .. (AFAIK)