Did you remove "all" java versions before reinstalling or only the most recent?

Be worth removing all versions. Then running this little utility CCleaner.com which will make sure there's no residue components of an earlier version Java which is confusing LW. Then reinstall Java 1.5 as suggested by 6_Pac. But only install using the "Offline" version installer.

This may or may not make a difference but ... Try deleting your LW Preferences folder whilst LW is closed; instructions here: Point #2 & 3 in Fixes for Limewire (sample image included at bottom of page.)