Most likely, yes. Here's the explanation why:

Riffworks 2 Line 6 Edition was a hardware-specific license in which you'd use Line 6 Monkey to actually install the purchase license into a Line 6 USB hardware device. Rifftrack (Riffworks Version 1 was an embedded feature for users who bought the red GuitarPort/Rifftracker device way back when).

Problem is that this was back during the cusp of Microsoft XP and Vista transition. As of 2010, Riffworks software has been upgraded Riffworks Standard 2.5, which is all handled through the parent company (Sonoma Wire Works). The latest Riffworks Standard 2.5 differs from previous releases primarily in the following aspects:

1. It is Windows 7 and Mac OSX 10.6.x system compatible. (The older Riffworks 2 Line 6 Edition is not fully supported/tested for the newest computer OS's of 2011).

2. More importantly, the license is now software program-based. In other words, Riffworks no longer uses hardware-specific installed license keys to run the program. The license key is entered during software install (like most programs). This means you're free to use any ASIO sound device with the software (doesn't have to by a Line 6 audio interface any longer).

So, unless your new computer is running the older Windows XP or Vista operating system, you may have compatibility issues if it's a Windows 7 system. Should you be interested, I believe your account is eligible for the special discount price to Riffworks 2.5 Standard from your Riffworks 2 Line 6 Edition standing: http://line6.com/store/item/116

The update instructions are here, in case you wish to read up on the process: http://line6.com/community/docs/DOC-1622