Too early to tell yet if the disconnection problem can still occur, but another problem is already apparent: sometimes Limewire hangs for a significant period of time with nearly no CPU use. It never used to freeze without nearly 100% CPU use.
So it looks like it now hangs temporarily under a whole new set of circumstances using 4.9.4 and Java 1.5.0_04, hangs that didn't happen with 1.5.0_03.