Evaluation time period has expired. Please, purchase full version of the product

After entering the license key, GraphicsMill.Licensing.GraphicsMillLicenseInformationProvider.BitmapLicenseInformation has the following information on the development machine:

EvaluationExpirationDate: #12:00:00 AM#
LicenseKeyIsExpired: False
LicenseKeySource: Registry {1}
LiteVersion: True
ProfessionalVersion: False
ServerVersion: False
StandardVersion: True
TrialVersion: False

Then when we run the code we get this message:
Evaluation time period has expired. Please, purchase full version of the product.

I have two questions on this:
• What is the difference between Lite and Professional version, and why my copy is showing Lite=True and Professional=False when there is only one (non-server) option (i.e. Windows Forms Developer License) on the website.
• Is this Okay now to simply distribute the library along with my product’s setup, so that it won’t raise the “Trial Expired” exception on client’s machines.