That possibly means you are firewalled either thru softw firewalls on your computer or more than likely a NAT firewall in your modem/router.
After LW has been open at least 30 mins, Do this test:
Bug Report instructions & sample image Is it True/False? If false then there's a firewall at least partially blocking somewhere.
Did you configure your firewalls for LW's access:
http://www.limewire.com/english/content/firewalls.shtml
Can you give us a total desciption of your set up:
1. OS version?
2. What firewalls you have?
3. ram? 4. HDD space available?
5. Connection type?
6. Modem & router brand name & model numbers?
7. Where are you trying to connect from (home, school, work, etc.)?
If you are using Win XP is that SP1 or SP2? (SP2 reduces the number of simultaneous connections.)