For video downlding, see Movie download issues

I'm not sure about the text showing. Make sure you have the most recent Java. Perhaps you could try deleting your LW Preferences folder whilst LW is closed; instructions here: Point #2 & 3 in Fixes for Limewire (sample image included.) But make a note of your settings 1st, as you'll need to reset them next time you open LW.
Or otherwise it's a monitor or graphic card setting you've changed that's affected it.