No don't delete all of your files...I take it you successfully entered your shared folder without the error message popping up...
I would now think that there is a corruption within LW itself...
Try the fixes in this thread one by one...Make sure you use the offline installer for Java and LW....Uninstall Java first and reinstall....Then uninstall LW...If it still keeps popping up with the error report try deleting your preference folder...
All instructions and links are in this thread....
Fixes for Limewire when LW isn't operating as it should!