The monitor simply shows incoming search queries from other LW users.
In other words it allows you to see what some LW users type in their search fields.
To disable it, all you need to do is untick that little box on the top of the Monitor window.

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iMac G4 OSX 10.3.9
RAM 256MB
LW 4.10.5 Basic
ADSL anything from 3 to 8Mbps/around 1024kbps

"Raise your can of Beer on high
And seal your fate forever
Our best years have passed us by
The Golden Age Of Leather"
-Blue Öyster Cult-