By most recent Java do you mean version 1.4.2 or 1.5 by Sun which is another company?

Here's some suggestions to try:
1. Repair LimeWire using the Add/Remove Programs utility. Go to Control Panel then Add/Remove Programs & click on Limewire on the Change/Remove button & it comes up with options and one of them is Repair. Try this.
2. Right-clicking the Limewire icon and going to properties and changed compatability setting to Windows 2000.
3. Right-click on the Limewire icon on the desktop and click on Run as. Then it should up showing the current user and then switch it over to Administrator.
4. Delete the LW Preferences folder called .limewire (whilst LW is closed!) But you might want to make a note of your option settings 1st b/c deleting prefs folder will mean you'll need to reset them.

5. version 1.5 (take the JRE)