OK, that's not good, one reason I'm not a fan of "hardware related" keys.
I plugged my LW dongle into the PC in a different USB port than normal after instaling the latest Beta to test the LWO file handling.
Now, not only do I not see a LWO file open, but my activation key is hosed, I've been dropped down to trial mode and my hardware key has changed.
Whilst I can see a major change in hardware might force a reset, I don't understand why a typical windows "oh, you're using a different port" forces it.
Now I'm stuck with a key that no longer matches my reg details.
Once I get my new key, I will once again try to test it, but I am rather surprised my choice of USB ports should play any part in that.
EDIT: ok, found LWO - under OBJ, suggest a more logical file menu, import->sub menu listing available types. Alas, that does not help me with the hardware issue. As I switch mahcines a lot, my dongle and USB modem connect as and where I need them, which can often force windows to re-see the driver.