Error, "The Advanced edition requires a Professional key" when entering license key on Toad Data (4227192)

I installed the Toad Data Point Professional Edition and when entering the license key, I get the following error:

The Advanced edition requires a Professional key

1. A Base Edition key was entered

2. An invalid key or mistyped key and\or site message was entered.

Ensure the key and site message were entered correctly as appears on license key documentation. Ensure that the key being used is for the correct edition of Toad Data Point installed. Only a Professional key works on a Professional install and only a Base key works on a Base install of Toad Data Point.