My guess & purely a guess is your system/graphic card settings for your monitor. Try changing the resolution setting to see if it keeps doing it.
Another thing to try is changing LW's skin (under view menu), as perhaps one of the skins has compatibility problems.
And something else to try is to change LW program compatibility to Windows 2000 /NT or whatever options it gives you ... try each one.
Right-clicking the Limewire icon and going to properties and change compatability setting to Windows 2000. Somebody reported changing to Windows NT compatibility fixed their problem despite not using that operating system version.
I have not heard of this problem before.
Edit: Also see
http://www.gnutellaforums.com/290795-post9.html