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A quick search at Google: http://www.google.com/search?q=flexlm+error+88
will tell you that System clock has been set back,
usually meaning that you somewhere on your system have a file dated in the future, so the license manager thinks you are trying to fool it. Find the file with the incorrct date and correct it.
I once had the system clock problem when my computer crashed. I removed the program with the time license, used Norton system works to purge the registry of entries for the program, and reinstalled the program. It worked again.