FCP 4.5 HD software update gives licensing issue

Please Help,
I am using FCP 4.5HD and have just done the normal softare updates - now when i try to start the app i get a licensing dialogue box - it shows my correct name and serial number but wont let me press OK and only the quit button is pressable.
(have already tried the sudo option in terminal as suggested in some other similar posts but does not change anything)

Simon, I have been having the same problem when i try to export using the compressor. It tells me I need a AGP Graphics card... the same problem that arose when i first installed FCP4.5 on my new computer with Tiger OS. I got around that by rescripting the infoplist to read 'PCI' rather than 'AGP' on startup. It seems I have to find a way around the compressor looking for the the older AGP graphics card. Any ideas?

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