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.)

Delete the Shortcut on desktop. Go to the programs folder & open LW directly. If it opens ok, then create a new shortcut & send to desktop.

If that doesn't fix it, then try the other options in the link above such as changing compatibility mode.