Try deleting LW's preferences folder when LW's closed (check in task manager & end the process if it's running). See points 2 & 3 below. If you've used older versions of LW, you could have a folder in either location - so check both.
Fixes for LimeWire

Also try changing compatibility to Win NT or 2000 (point 5 above).

I've never seen an optimisation wizard for LW Did you get your version from www.limewire.com ??