Try not using the damned Program Files folder
Guess I should yell at Mircrosft then for making Program Files the default install location.
patience is the key - you were already on the right way - but left it without patience
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Try again and wait until everything is finished. FLMM seems to get stuck during activation - thats normal and you should let the program do the work.
I know it appears to freeze during the activation process so I don't mess with anything from that point. It's activated again anyway so no worries.