Sauté corn kernels in hot oil in a large skillet over medium-high heat 3 minutes or until tender; add lima beans, and cook 2 minutes. Remove from heat, and let cool 10 minutes.
Toss together lima bean mixture, bell pepper, and next 4 ingredients in a large bowl. Cover and chill 1 hour.
*1 cup frozen baby lima beans, thawed, may be substituted.
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