LimeWire invalid files?

[Rachelle68]

I am running Windows Vista / Limewire 4.14.10 / Java 1.6.0_03.
My problems started earlier in the week when Limewire would not connect.....stating that it was "trying to make an internet connection".
I was in the process of troubleshooting this problem - with the recommendations on this forum. However, before I resolved the first problem I am now getting the following message:
ONE OR MORE FILES APPEAR TO BE INVALID. THIS IS GENERALLY CAUSED BY A CORRUPTED INSTALLATION.
I'm thinking that I should uninstall Limewire and re-install the 5.0 version. (?) If I do that - will I lose all my playlists, or are they transfered / saved?
Any other suggestions would be greatly appreciated - I'm new to all of this so please use layman terms!