Looking into this further, I may have been a little hasty in my earlier posting.......
It appears that the Mach loader does not automatically install the license file. Search your Tormach software for the file 'Mach1Lic.dat'. If it is there, then copy and paste this file into the Mach3 folder. Upon restart you will then have the licensed version of Mach3.
Tweakie.