What OS? Mac or PC?
If Mac, have you tried this?
Eleven Rack Expansion Pack Firmware 2.01 Update fails on Mac OS X with error: License Activation failed. Please contact an Avid representative for further assistance.
http://avid.force.com/pkb/articles/e...ssage/en422359
If Windows 8, this
http://avid.force.com/pkb/articles/e...nder-Windows-8
If none of that works you need new/reset serials.