I'm going thru the motions with Winhex, version 9.92.
The problem I've encountered has to do with the serial scheme. It's easy to figure out where it get's the entered codes, also easy to see where it stores them. The problem is I can't figure out where the heck it does anything to them, compare, modify whatever. It doesn't seem to access them at all.
If anybody has had a crack at it, or anybody has a good idea, please help me with this one.

Fake

The serial entered from a registration dialog is just a FAKE one. It's a misleading in order to distract your attention.

The real serial is stored in a keyfile named "USER.txt". The content of this file is like the following:

User: "who"
Addr1: "who cares"
Addr2: "who knows"
Code1: 24859A91A107AB8001A0E00302000000
Code2: 303D0EE70AD0641BD89E57A64DD164C5

If you get a real keyfile, you will see "Genuinely licensed ..." in the About dialog.

WinHex uses the keyfile to dynamicly decrypt some code in its exe. So without a valid keyfile it can't be keygened. egis/CORE made a keygen after some group had released a valid key.

Cheers mate.

Yeah, figured out about the keyfile a couple hours after my post, but didn't get around to edit it (was way too sleepy at that time). Anyway, gonna play around with it a bit, see if I can make things happen.

Fake

PS: Just debugged the thing some more: Seems Mr. Fleischmann is well aware that Egis/Core made a keygen, they've been blacklisted in the program, hehe

Solomon. Your Avatar Teddy bear is annoying.

hehe, I can't find a appropriate image
I will change it