Make sure that
Help | About | Install Info shows
Ultra Recall Professional 4.x
If it shows 'Ultra Recall 4.x', you will need to uninstall, then download and install the Professional edition from
http://www.kinook.com/Download/UltraRecallProEval.exe.
Then, make sure to copy and paste all the lines between the 'Copy lines below/above' lines from the license info email (not just the license key) into the Register dialog.