The Update License feature is not working with a new license file (4317480)

Within the Secure Copy console under Help | License Status | Update License, browsing and selecting the new license file is not working. When selecting "Details", the old license information still appears. 

The error message reads:"License already exists".

1. Close the Secure Copy console
2. Browse to the Secure Copy installation path: <installDrive>\Program Files\Quest\Secure Copy 7
3. Rename ProductLicenses.dlv to ProductLicenses.dlv.OLD
4. Launch Secure Copy console and apply the new license via Help | License Status | Update License