*** Update 2*** A fix for this issue is now released, and a replacement SP2 download will be available 4-6 weeks from now (and now is 6/26/2009). See http://blogs.msdn.com/brismith/archive/2009/06/26/project-server-2007-office-server-service-pack-2-sp2-update-kb-971620.aspx
***Update*** The KB for this issue is now live at http://support.microsoft.com/kb/971620
but currently it does not say that this issue also applies to Microsoft Office Project Server 2007. This will be corrected shortly, but this certainly does also apply to Project Server 2007 once the Office Servers SP2 is loaded - regardless of the presence of MOSS. and Applies to section includes Project Server 2007!
This is an emerging issue where we are seeing servers that have been updated with the 2007 Microsoft Office Servers Service Pack 2 (SP2) KB953334 are set to a trial license, with an expiry around the end of October 2009.
For the official statement on this issue please see the SharePoint blog, which also contains some FAQ answers on this topic.
This appears to apply to servers with Microsoft Office SharePoint Server 2007 and Project Server 2007 both loaded, as well as servers with just Project Server 2007. Thanks to Shazeb and Kyle for bringing it to our attention!
The fix is simple – just re-enter the license key. The Project Server 2007 one, or the Office SharePoint Server 2007 one if you have MOSS loaded too. This is done on the Operations page from SharePoint Central Administration under the Upgrade and Migration section (lower left) called Convert license type.
If you see the word “Trial” in the description area then you have the problem.
On the page itself enter the key, which will be the usual 25 characters in 5 groups of 5. The following screen shot is of a server after the correct key is entered – so it doesn’t show “trial”.
There will be a KB article coming soon KB 971620, but at the time of writing this is not live – though expected in the next 48hrs. No rush to fix as the expiry is not for a few months – but best to do it before you forget. No reboot necessary.