Try reinstalling the 707 Base Pack (use the "Run as administrator" option if you have Vista/Win7/Win8/8.1) and see if that fixes it.

If that doesn't work, then you will need to do a full uninstall/reinstall as described in KB #685 (Check-in to Your Profile > Product > Customer Support > Search KB or Submit New Ticket), which includes removing the registry entry. If you do the full uninstall/reinstall, try using the Manual Offline Activation (I use it all the time).