Hi,
Please see if this post helps on the license issue:
http://www.essentialobjects.com/Forum/Default.aspx?g=posts&t=119VS2005 shows error on the design view mostly because it is unable load EO.Web.dll. This can be a version mismatch, a permission issue due to your project location does not have full permission (for example, on a remote drive). You can try a blank new local project first. If that works, then your installation is fine, and you can try to:
1. Refresh your project reference to make sure your project references the correct DLL;
2. Add EO.Web.dll to the GAC;
If it doesn't work with local project, then there might be a problem with the installation. You can try to reinstall it.
Thanks!