A reverse proxy is a server in between the site and the Internet (perhaps handling caching or load-balancing). This makes getting the correct client IP to block slightly more complicated.
The option default to NOT being behind a proxy -- which should be by far the common case.
You probably are not or you would know. We show a pretty good guess on the option page. Set the option using this unless you are sure you know better.
Either wait, or:
If you have ftp / ssh access to the site rename the file "wp-content/plugins/limit-login-attempts/limit-login-attempts.php" to deactivate the plugin.
If you have access to the database (for example through phpMyAdmin) you can clear the limitloginlockouts option in the wordpress options table. In a default setup this would work: "UPDATE wpoptions SET optionvalue = '' WHERE optionname = 'limitlogin_lockouts'"




