It sounds like something affecting the actual program. If you have Java 1.6, then remove any previous version of Java. Also try changing the compatibility mode of LW. Tips here
Fixes for Limewire. Deleting the LW prefs folder is also a wise thing to try.
OH & did you install LW usng the online or offline installer. I'd recommend the offline one so you are actually instaling from your computer & not waiting for data to arrive over the net whilst it installs.