I thought I was using the Ray installation that came with the Dolphin download.

I downloaded and installed a separate Ray package. Then the licenses worked. Now I'm trying to get rid of the second version, but it really doesn't matter.

I got the instructions here
http://www.boonex.com/trac/ray/wiki/GenRayFAQs#HowcanIreplaceFreeRaywidgetswithAd-Freeonesandviceversa

Hope it helps!
Bobby