Did you upgrade to Java 7 in the meantime?
http://www.gnutellaforums.com/window...tml#post348148
If the problem is not Java related, try deleting your LW preferences folder:
http://www.gnutellaforums.com/window...tml#post183932
Also make sure LW has a firewall exception.
Another possibility is another security software you have installed is blocking LW from opening. You would need to put LW on that program's exception list.