I'm using a legit copy of LimeWire 4.0.7 Pro.

I put a new "Shared" folder back where the old one was and everything seems to be running normally. My aliases and directory paths act as though nothing ever happened. LimeWire is saving files to the new Shared folder and all seems well.

I can't think how to set things up to repeat the situation, but if it happens again I'll post again, I guess.