Apparently, you downloaded an ancient version of LW. The latest is v4.0.6 & you need MRJ 2.2.6 since you have OS 9.2.2 NOT OS 9.2 according to the error report.
Check the Apple System Profiler or About This Computer under the Apple Menu for the correct OS you have. If you do in fact have OS 9.2, then you need MRJ 2.2.5.

Suggest that you uninstall the version of LW you have & its preferences & trash it.
Rebuild your desktop using Techtool Lite.

Download & install MRJ 2.2.6 (2.2.5 for OS 9.2).

Download & install LW v4.0.6 w/extensions OFF.
Rebuild your desktop using Techtool Lite.
Increase LW preferred memory 200%. More if you have over 320mb of *real* RAM.
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LimeWire v4.0.6

MRJ 2.2.6

MRJ 2.2.5 (OS 9.2)

Mac OS: Assigning More Memory to an Application Program. (The same directions are also in the OS Mac Help Menu)

TechTool Lite