Depends on which operating system you're using. For windows 7 type %appdata% into the start menu search box. Then right-click the LimeWire folder and send shortcut to desktop. I did this with all my Windows versions. For Win XP and presumablly Vista & earlier: Click on Start > click on Run > type %appdata% into the text field > ok
Oops hard links? I misread your post.

On Windows 7 you can drag & drop the folder into Favorites. Not sure if this kind of thing is what you wanted. I have downloads in favorites. I presume you're still using Win 7.

I haven't tried the new java update yet, will see what happens.

Oh remember if you have a 64-bit computer to install the 32-bit java last during updates.

Edit: I just updated to java 7u40 using the Offline 32-bit java and LW 5.3.6 opened and connected fine. Despite not using this particular LW for about 2 months.