Delete LW's preferences folder when LW's properly closed. See point 3 here & also point 2 if you've used older versions of LW in the past (there could be a folder in either location).
Fixes for LimeWire
This will kill all of your settings within options, you'll have to go back through afterwards & reset things.
LimeWire Pref Folder in Vista

If that doesn't help, try updating Java. Use the JRE offline installer & remove any other Java versions before you install the new one.
Java SE Downloads

And if you have probs with that latest Java version, use this older version. same deal - offline installer & remove other Java versions before installng this one!
Archive: Download Java 2 Platform Standard Edition (J2SE) 5.0 Update 11