Check through this thread for suggestions of things to try:
If LW 4 Will Not Connect (click on the blue link).
Normally if a spyware program miscategorizes LW, it will usually prevent it from opening altogether. Many if not most spyware programs have options for exceptions anyway.
I see you're using same ISP as me. It's my guess your gnutella.net file might need replacing. BTW despite how much you might luv LW 4.12, I think you might do better with LW 4.16. Both LW 4.18 & LW 5 prevent versions earlier than 4.14 downloading from them.
http://www.gnutellaforums.com/340213-post427.html