Sometimes a simple Repairing of Permissions can fix this. Try the following out one by one to see if one fixes it:
1. See
SAFE Boot & Repair Permissions & see if this works.
2. If not, delete your LW Prefs folder (whilst LW is closed!!!) found here: /Users/your_username/Library/Preferences/LimeWire
3. Download & install the Standalone Java installer:
http://www.apple.com/downloads/macos...update142.html
4. Double-click the harddrive icon, open the Library, open the Receipts folder, then find the file: Install LimeWire.pkg & delete it and try again.