I'll quote this Gearslutz post: http://www.gearslutz.com/board/music-computers/844460-warning-do-not-install-new-ilok-software.html
Do NOT synchronize your iLok(s)!
iLok (PACE) performed a database update this weekend that *invalidated* a significant number of VALID permanent licenses.
This issue affects thousands of users.
If you install the latest iLok software, and synchronize your iLok(s), you risk losing permanent licenses - they will be converted to "Temporary".
Software will NO LONGER AUTHORIZE.
DO NOT INSTALL THE LATEST SOFTWARE.
DO NOT SYNCHRONIZE ANY OF YOUR iLOKS.
Licenses from the following companies are known to be affected:
Antares
McDSP
Melodyne
Sonnox
SoundToys
Waves
iLok (PACE) is aware of this issue.