I would really appreciate if they had Parental Controls for LimeWire even as simple as being able to set a password for the 'Search Filtering' settings in the Options. Does anyone agree with me on this cause I really don't want my kids being able to download pornography and anything too illegal. Is this a coming around feature or is it yet to be considered I really think it would be beneficial to have it as a option.

One quicker way to make a request is to post it to LW's Jira as a feature request: LW Jira instructions. The staff at LW appear more open to new feature suggestions this year compared to the past.
A parental control with a password is something that has been requested for many years. Some other gnutella programs have had a parental control. A filtering option password is an ideal way to go about this! Great idea (ie: applicable to any changes made to the options or the options for filtering.)