Having the same problem-bouncing in dock followed by nothing ... Java fixes not working - termanal says:

/Applications/LimeWire/LimeWire.app/Contents/MacOS/prelude: line 1: dirname: command not found
/Applications/LimeWire/LimeWire.app/Contents/MacOS/prelude: line 19: /LimeWire: No such file or directory
/Applications/LimeWire/LimeWire.app/Contents/MacOS/prelude: line 19: exec: /LimeWire: cannot execute: No such file or directory

Showing the contents of Limewire.app and manually launching "Limewire.app:MacOS:Limewire" (i.e. the Unix Executable file) seems to work, albeit with some interface redrawing issues that may or may not be related to this issue.

Hope this is some help..