I accidentally deleted the folder that I was sharing from and now I can't find any of the previous files I downloaded. Is there any way to retreive them without downloading the songs all over again?

search your hard drive for the name of a song (or just ".mp3"), and maybe look in the trash/recycle bin. If the files are still there, you can use options or the Library file menu in LW to Add the Folder back to your Shared lists.

If the folder is deleted and the trash emptied, then a file recovery program like Norton's Unerase might be able to recover some of the files.