G'day CopyChopper,
I haven't enough experience with L.M to comment on the re-install option, but presume it depends on where you store (which folder) your L.M. Library is located, if in doubt, copy it elsewhere, like a new folder on your desktop.
Reconverting your songs isn't hard, I used a small, 1085kb free program called FreeCD to Mp3 Converter from Tudogs/audio section (free site after giving your web address) is very basic, & just remember to push the sliding "audio quality slider" in Options/OGG to the max (highest Quality) when changing your wave file back to Mp3, give it a go,,, u cann't make it any worse than it is, right?
If u wait a bit maybe an expert will come round with better advice,,, lots of good, clever, people round L.M.
Regards, Agnew