Reinstalling LW might fix this problem. I'd suggest using the offline LW installer http://www9.limewire.com/download/LimeWireWin-full.exe

An alternative is to use this other version which means no installation necessary: Download ‘Other’ version & simply unzip & use!. However, I'd suggest uninstalling LW before you use the 'Other' version via the Start menu -> All Programs -> LW -> Uninstall. It might also be wise to run Crap Cleaner after uninstalling LW. (Click on Registry tab on left side before you run this program.)

If still problems, see msvcp71.dll not found error - Tech Support Forum