Just brainstorming here, but you could probably move Move the Limewire folder from the programs folder into a folder that you made for it, and then password protect it using some kind of program of the internet.

Then remove all shortcuts to it (even from your account)

Since they have admin accounts that's probably the only way.

Only problem is that there is really nothing preventing them from just redownloading and intalling it them selves. Except maybe if you also get a good firewall, passwordprotect it as well and block access to all sites where they might be able to download it.

But then they could just download some other P2P program.

So guess the answer is no