Have you tryed this thread.
User Cant Connect - LimeWire
Or try this idea. Get ride of the java you have now and get the Jre one from the link below.
Archive: Download Java 2 Platform Standard Edition (J2SE) 5.0 Update 11

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System details - Help us help you > Provide these details when you post !

Fixes For Limewire When LW Isn't Operating As It Should
If you've updated LW and can't find your downloads!
LimeWire FAQ and User Guide--If LimeWire Will Not Load
If Limewire Will Not Connect

System Mechanic--FileHippo--Download.com

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Some time's i just want to throw my computer out the window