There are two other things you could try.
Changing the compatibility mode might also have an effect. Right click the exe icon, go Properties>Compatibility and change it to Windows NT (or Windows 2000).
Or try to re-download the LW offline installer exe from here:
http://www.limewire.com/
If the Windows one produces the same result, then scroll down at the LW website and download the one linked under "Other OS".