FWIW, OS X LW uses the preference menu.
You're probably right about the redundancy of the button on OS 9. There was a time when both were needed, but IIRC, that was primarily a Windows problem with a particular version.
I can see that the advice is now precautionary at least. The easiest way to find out for your machine would be trial-and-error.
http://www.limewire.com/english/cont..._history.shtml may help, but it primarily lists major changes.
Cheers
(I still think it's pretty cool LW still runs on OS 9, long after Apple gave up supporting Java for classic. We should restart that 'contest' for the oldest Mac that can run LW)