So no more than 5 users can use the freeware?
I believe the same wording is in the click-through legal agreement.
Markus,
This same thing you describe here happened to me today. I think I have the answer. It appears to be a permission issue masquerading as an expiration issue. I am not a privileged user on my PC. When my 30 day trial expired I got the "must download a new version" message. A Help Desk tech was trying to help me update the software to no avail but we noticed when he tried to launch my "expired" TOAD with his credentials it opened normally.