There are different licenses available for applications:
the ones that can be attached to a single PC since it's based on the Hardware ID and it will run only on that PC.
licenses that have a limited number of activation procedures, meaning that it will expire after X of installations.
licenses that can be installed on multiple PCs and activated multiple times (usually offline license keys)
As far as I know, Pinnacle Studio 15 is not available anymore, therefore you should continue with license activation on a second PC.