This might work (it did for me -- was experimenting to see how many of the *.xbin files were really needed):
It seems the install puts three data*.xbin files in the main directory. These three seem to correspond to the "Trial" license. If license.xbin is in the directory also, you get your "by name" personal license. All three of the data*.xbin files must be in the directory. If they are not, PT puts out a "failed to validate license" message twice (or more if you wait ...), and disappears from the desktop and taskbar, but remains as a running process in task manager. Each time you start PT, this happens again and you get multiple PT running processes. They can be killed via task manager for example. If you are having strange PT behavior, use Task Manager to kill any duplicate jv16pt.exe processes before you start again ...
If all four of the *.xbin files are present, you get your personal license recognized and all is fine ...
So check to see if you have any data*.xbin files as well as the license.xbin ... if not, reinstall to the existing PT directory, and be certain the license.xbin file is already in the directory.
The same license.xbin works without the three data*.xbin files, but there must be a data.xbin in the Settings directory (it is put there by the install). Otherwise you get the symptoms described above.
The install also puts a Default License.bin + Default License.xbin in the main directory -- these are the trial license and are not really needed.
