EDIT 2: I just realized that you resurrected a 4 year old post.
Actually yes.
About 2 years ago I played around with the folio licensing system.
I haven't touched it since so I do not know if what I share will help you with the newer versions.
The program you want to focus on is the one that lets you update and edit your license files. Excuse the bad memory but I cannot remember what the name of that little program is.
Anyway, each license file can be edited by the user who created it. The rights browser program allows you to login as a specific user to edit the file. You should see a dropdown box of some sort. That dropdown box is your first target. Use a resource editor to change the drop down box into a combo box so you can type in it. If I remember correctly the resource is in one of the dll files, not the exe.
Once you have changed that dropdown box to a combo box. you can type in any name and password to enable the rest of the rights browser window. *Silly protection doesnt protect against unknown users* (You can use a third party program such as winabler to enable the window, but I prefered this way)
Okay with that done you'll notice that you can edit a few things about the license file but there are still some errors you get. Something like "you don't have permission, blah blah". You can use Olly to find those messages, they are just a simple reverse of a few conditional jumps. I think those may also be in a dll.
EDIT: Okay looked over some past emails. there are 2 dlls that you are going to have to edit, one of them is radenu4.dll, I don't know what the other one is. I believe I had to edit the rightsbrowser program as well.
Sorry to be so vague but I cleaned up my email and lost much information on it. I 'may' still have the actual fixed files around but I will not know until monday.
**I don't know if the rules have changed yet, but if this is too target specific let me know and I will switch to PM's**