Hmm well at least you've got a bit further. I'm no Java expert but looking at the errors I would say the missing classes are all in the limewire distro itself. Make sure you are launching limewire in the its home dir
/usr/local/LimeWire/v1.5/
I presume the above is the dirctory in which you have limewire installed and looking at it I think it is Incorrect. I would try making sure 1.5 is in a directory called Limewire (note the case) and then use cd to enter the Limewire directory and run the script.
Good Luck
Richard