Try an experiment with an audio song from a magnet link: http://www.magnetmix.com/index.shtml
Tell us what happens.

BTW I presume you have seen this!? License requirement (click on link)

If you succeed with the magnet link then perhaps try deleting your LW Preferences folder whilst LW is closed; instructions here: Point #2 & 3 in Fixes for Limewire (sample image included at bottom of page.)