Krak v1.5.1.37938 3ds max 2009 32-bit
- Click Configure License Server… Button
- remove default @yourserver entry.
- UPDATE REGISTRY AND CLOSE
- Attempting to reopen dialog causes error FilterString[String to filter][Tokens] requires string, got undefined.
Yep, that was fixed last night (when I tried to install Krakatoa at home) 
Also the dialog was made wider because if you are using a node locked license file, it will appear in the same dialog.
And the tooltip of the License Server button was wrong…
There will be a new build later today with these fixes.
We have posted a new build 38002 which should fix these issues.