Permissions issues and installing FCP Studio - admin has no privileges

Hello
Compressor 2.01 was crashing to I pulled out the universal binary updater discs and decided to finally upgrade. When I run the installer, I get the following error when I input my serial number:
"Licensing Error: The license file will not be written to disk because the user does not have enough privileges."
I am an Admin user on the Mac.
I recently (this morning) ran Disk Utility and fixed permissions. I also booted into single user mode and ran FSCK. Those things are supposed to FIX permissions issues, not cause them, right?
I also ran permissions fix a few minutes ago - after I got this message. The error message still pops up.
What can I do?
Thanks,
-----------------S

Thanks for the overwhelming response.

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Permissions issues and installing FCP Studio - admin has no privileges

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