no one is saying yes or no (believe me, i have been trying to get a straight answer for awhile now), but the development on LimeWire has not stopped and is in full swing. so i can say that its going to take more than limewire shutting down its website to shutdown LimeWire development. because it is open source, limewire development will STILL continue even [if] after limewire shuts down.
LimeWire is open source. and you can grab the source code for free and start hacking away to help out the development:
http://www.LimeWire.org/ or click on the Open Source link at the top of
http://www.LimeWire.com/