The light bulb current limiter just limits the amount of current the circuit can carry. In the case of a 60 W bulb, 500 mA is all the current that will flow through the circuit. The fact that the fuse didn't blow tells you only that the fuse is rated for more than 1/2 A. the way the current limiter works is this:
The current limiter is taking advantage of Kirchoff's current law, that tells us that the amount of current flowing through a circuit is the same at all points in the circuit. What we are doing is placing the light bulb in SERIES with the the amp so that we know that the same amount of current is flowing through both the bulb and the primary of the Power Transformer. The current limiter, therefore, is limiting the amount of current going through both the amp and the bulb to the amount of current drawn by the lesser of the two loads. If the amp wants more current than the bulb does, the current will be limited to the 500 mA drawn by the bulb. If the amp wants less than 500 mA, than whatever it is that the amp is drawing is all that will be going through the bulb as well.
The way to use a current limited is to look at the light bulb. Pull the output tubes (most likely cause of the fuse blowing) and connect the amp up to the limiter and switch it on. If the light bulb glows very dimmly (and you may have trouble telling that it is on at all), then you can conclude that it was a blown output tube that was drawing the excessive current. If the bulb glows at its regular 60 W intensity, then there is some other reason that the amp is drawing this much current, and additional troubleshooting is necessary.