An Anonymous user posted the fix below...and it works! HOLY CRAP!!

I experienced the same problem and I could solve it this way. In .limewire directory, instead of a FILE named limewire.props there was a DIR with this name. This prevented the program of saving all the settings, and it always worked as it was running the first time. So I remove the DIR and created an empty file with the same name, and rw options for all. Another tip: when use the Options dialog, I couldn't see any ok/cancel buttons. So I enlarged the window height and there they were!