Try removing your current version of Java & reinstall JRE using the offline installer (I know you've already done this, but the latest JRE is update 9 & it looks like you're using update 8). Install Java
before installing LW.
http://java.sun.com/javase/downloads/index.jsp
Also try reinstalling LW & make sure that you use the offline installer (not the recommended one).
http://www.limewire.com/english/content/download.shtml
Did you try changing compatibility to both Win 2000
and NT?
*When you delete the LW preferences folder, LW has to be completely closed (check in Task Manager to see if it's still running).