1. Plug-in has failed to read the license file. Make sure the license is called “license.key” in the plug-in folder and not “license.key.txt”. If you see .txt appended, rename the file to “license.key” and try to validate again.
2. Plug-in has failed to locate the license.key. Make sure the license is in the plug-in folder, ie: Macintosh HD/Library/Audio/Presets/Mystery Islands Music/(plugin name)/license.key

Note that Version 3 has a new location AND name for license.key. License should be placed in /Users/(your username)/Music/Mystery Islands Music/(“plug-in name”)/”plug-in name”.license

PC example: C:\Users\johndoe\Music\Mystery Islands Music\Access Virus Editor\Access Virus Editor.license
MAC example: /Users/johndoe/Music/Mystery Islands Music/Access Virus Editor/Access Virus Editor.license