Try these:

1. Tip: Purge the Downloads Queue!
2. Within LW's options, disable ultrapeer capabilities & iTunes sharing.
3. Reduce both your upload & download bandwidth a bit.

You could try the Java 1.6 (have to remove all other Java versions for it to work), that's worked for a few people. Use the JRE offline installer.
http://java.sun.com/javase/downloads/index.jsp

Or, you could try updating LW & see if the latest 4.12.6 works any better. There's also a 4.13.0 beta. If you love your 4.10.9 version, just make sure that you've saved the installer...installing a new version will remove the old one
http://www.limewire.com/english/content/download.shtml