The wall shows "up" by default, and only becomes meaningful once connections have been established for a while.
OK. 2nd easiest shot-in-the-dark fix : Quit LW, and replace the gnutella.net file(the list LW uses to connect).
Instructions are here
LimeWire Forums
If this doesn't work, there are no more quick and easy answers. You'll need to work through the stickies on "connection problems"