Your Java version's really old - try updating that first of all. Download the JRE offline installer & remove any old Java versions installed (via Add/Remove Programs) before you install the latest update: Java SE Downloads - Sun Developer Network (SDN)
Reboot your computer after installing the new Java

If you're still crashing after that:

1. Tip: Purge the Downloads Queue!

2. In LW go tools > options > advanced > performance. Disable TLS, DHT & ultrapeer capabilities > Apply > ok.

3. Reduce both upload & download bandwidth a bit (~10%). Tools > options > downloads to change download bandwidth. Tools > options > uploads to change upload bandwidth.

4. If you're sharing heaps of files, reduce the number of shared files.