The error is saying that you may need to update your sound driver...
Bur first try the VLC player it has all the necessary codecs already installed and it is free, generally if VLC doesn't play it then nothing will..

http://www.videolan.org/vlc/

To make VLC your default player...
Go to your shared folder (outside of Limewire) you will find this folder by clicking on one of your files in your LW library and clicking explore...

Right click on one of your movies files
Select open with
Select choose program
select VLC
and tick the box that says always use this program to open this file type
Select OK

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You die for nothing...