I would suggest to update to the latest version of License Manager 1.02 from the link below:

http://line6.com/software/readeula.html?rid=4671

Use the updated version of License Manager to de-authorize and re-authorize both your computer and Line 6 hardware. In order for the Line 6 hardware to be authorized correctly, you will need to first make sure and register it to your Line 6 user account using the link below:

http://line6.com/account/registergear/