試用ライセンスを発行したのですがライセンス認証がうまくいきません。
試用メールに
>※Windows Vista/7/8をお使いの場合:
> Metasequoia 4起動時に右クリックメニューで「管理者として実行」を選んで起動してから
> 上記シリアルIDを入力してください。
これをすると管理者として実行中しかライセンス情報が読み込まれません。普通に起動すると（Windowsの管理者権限を持ったユーザーで、普通にメタセコアイコンをクリック）ライセンス情報が空のままで、毎回いれろという画面がでます。
管理者権限で起動すれば、ライセンス情報が入力された状態になります。
なんとなくですが、HKLMは読み出しのみで開いてキー情報を読み込むべきなのではないでしょうか？（管理者権限ではないので）
動作環境：
Metasequoia 4.0.1(x64)
Windows 8 64ビット
レジストリの状態：
HKEY_CURRENT_USER\Software\tetraface Inc. ←空っぽ
HKEY_LOCAL_MACHINE\SOFTWARE\Tetraface
|-Metasequoia ←V4ID1とV4ID2キー(REG_SZ)が２つ
Proccess Monitorの結果（メタセコ通常起動→ライセンスいれろ画面が出るまで）：
"Metaseq.exe","3152","RegOpenKey","HKLM\SOFTWARE\Tetraface\Metasequoia","ACCESS DENIED","Desired Access: All Access"
続きを表示...
"Metaseq.exe","3152","RegQueryKey","HKCU","SUCCESS","Query: HandleTags, HandleTags: 0x0"
"Metaseq.exe","3152","RegOpenKey","HKCU\SOFTWARE\Tetraface\Metasequoia","NAME NOT FOUND","Desired Access: All Access"
"Metaseq.exe","3152","RegQueryKey","HKLM","SUCCESS","Query: HandleTags, HandleTags: 0x0"
"Metaseq.exe","3152","RegOpenKey","HKLM\SOFTWARE\Tetraface\Metasequoia","SUCCESS","Desired Access: Read"
"Metaseq.exe","3152","RegCloseKey","HKLM\SOFTWARE\Tetraface\Metasequoia","SUCCESS",""
"Metaseq.exe","3152","RegQueryKey","HKLM","SUCCESS","Query: HandleTags, HandleTags: 0x0"
"Metaseq.exe","3152","RegOpenKey","HKLM\SOFTWARE\Tetraface\Metasequoia","ACCESS DENIED","Desired Access: All Access"
"Metaseq.exe","3152","RegQueryKey","HKCU","SUCCESS","Query: HandleTags, HandleTags: 0x0"
"Metaseq.exe","3152","RegOpenKey","HKCU\SOFTWARE\Tetraface\Metasequoia","NAME NOT FOUND","Desired Access: Read"
"Metaseq.exe","3152","RegQueryKey","HKCU","SUCCESS","Query: HandleTags, HandleTags: 0x0"
"Metaseq.exe","3152","RegOpenKey","HKCU\SOFTWARE\Tetraface\Metasequoia","NAME NOT FOUND","Desired Access: Read"
"Metaseq.exe","3152","RegQueryKey","HKLM","SUCCESS","Query: HandleTags, HandleTags: 0x0"