I am wondering if I did this right, I am not sure if other users can see what I have to offer. Is there somewhere I have to go and click to make sure that if other people want to browse my library they can?

For some odd reason, if you have Chat enabled, it is much easier for people to browse you. You are refering to (a) Browse aren't you & not just (b) sharing your files so they can find them is a search?

(a) See How to use Chat & Direct Connect, etc.

(b) Go to your LW Library window. Select any folders you have set up to share. If they are listed in black then they are being shared. To the far right columns under uploads & hits you can see if people have found them in searches or uploaded any files.

I have a second question to ask as well. In the setup, you can limit the conection from people by the number of files they have to share.

Seems that I do not understand this as I place a limit on there and I still see people with only 5 -10 files to share get access .

How do I correct this?

2 things! You need to keep in mind that browsing is a very imperfect function. You might only be able to browse some of their files sometimes or even none at all. That doesn't mean they're not sharing. Too many people make this mistake of judgement. And yes, those that show the chat icon in the upld or downld windows are easiest to browse. And it's also easier to browse from the downld window compared to the search results.

The freeloader slider doesn't work! And i don't know how effective the other is. But i did notice it worked when i changed it several times last year.