Where you put the license file that was sent to you is unimportant. Put it anywhere you will not loose it. I keep a 'License' folder in MyDocuments where I put a copy of all my license files.
When you run the load license button on the about screen it will read the file it is pointed to and place the string it needs into the .ini file
If that doesn't work then all I can guess is the original license file has been corrupted, so having Scott verify wold be a good check.