I ran a test and ran both Azureus and Netlimiter at the same time.
Without netlimiter, i configured the latest version of Azureus to upload at 5kb/s (the lowest it allows you to set). I was able to download at 150kb/s. When i turned Netlimiter on.. I configured it to only allow Azureus to upload at 1kb/s. The download speed had an insane drop to 5kb/s. I then closed Netlimiter and Azureus's download speed went right back to 150kb/s. I did this about 5 times with 3 different torrents. Azureus' programmer has added protection against cheating with Netlimiter now.