Perhaps We've been assuming too much here!.

What you should have got is an installer for whatever Limewire version it is. I also would hope that you have run a virus scan on it. It is a good idea to make a copy of your old (well in this case new) version and keep it somewhere safe like on disk or another hard drive. Hopefully you still have the installer for it. You then need to run the installation programme of the recently downloaded Limewire. probably by double clicking on it whilst your installed version is completely closed, but as a mac user I'm not 100% sure how you do this. This will delete the previosly installed version and hopefully the newly acquired version will be installed.

This is somewhat basic stuff which I assumed you were familiar with. I hope this explains things.

Please note that afaik you cannot launch any programme from the Librarry window and certainly not Limewire!

Btw I would suggest you think VERY carefully before installing anything AFTER 4.9.30

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