Yes, that should be more or less the same as chmod 777 <file>. As I said, if the owner of the shared / incomplete dir is the one running LimeWire, he should not encounter any problems unless the owner does not have full permissions to access the dirs.

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Morgens ess ich Cornflakes und abends ess ich Brot
Und wenn ich lang genug gelebt hab, dann sterb ich und bin tot

--Fischmob