Restart LW, then shut it down again. Once it's properly closed, go back into Application Data & look for that LimeWire folder...it should be there. Delete it.
Try port forwarding for your 2wire. The instructions are here.
Port Forwarding for the 2 Wire 2700HG-E
LW's listening port, port in the 'manual port forward' box & port forwarded within the device all have to be the same number