Unsuccessful Upgrade to 1Password 4

I tried upgrading my father-in-law's 1Password program from version 1.0.9.342 to version 4.1.0.538. Installation went fine, but when I run the new version it appears to be a limited demo mode. I'm not sure how to unlock the full-featured version, as I've checked the license key and it was correctly updated as part of the upgrade. Original purchase was made in mid-2014, so the upgrade should have been free. Any suggestions would be appreciated.

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