I just switched over to the new limewire version and I'm still trying to figure out how everything works. I downloaded a song and then moved it onto my desktop, but noticed that the song was still listed in my library with no delete icon that I could find. I don't need it listed in the limewire library, so I just want to delete it.

Control-click is how you will see options with LW 5. So control-click the file in Library & you will see a small menu appear with options.