I emailed someone at VSL back and forth for a week trying to figure this out, and they were helpful but ultimately I tried something that worked for me so I will take credit for solving my problem in this case, lol. And if you can, I highly recommend VI PRO. I didn't utilize all it's features until well after having it for a while. The more I learn how to use it comfortably, the more I am doing amazing things with it. Great software!
This is a windows fix (worked for me anyway, Win 7 64-bit)
I tried reinstalling everything with the newest version available online (software, library, e-licenser, etc) with no luck... BUT then I thought to reinstall everything again... this time I uninstalled all of it. I then deleted any mention of VSL in other places in the hard drive. I can't remember where VSL installs to but I checked program files, common files (a folder in program files), C:\Users\YOUR USER NAME\AppData\Roaming\VSL, and then deleted any VSL folder in the registry I found (I think only 1). I reinstalled everything and it all worked, my library was back, etc.
2 things to keep in mind if you try this. 1) only delete stuff like this AFTER you uninstall things properly with the uninstaller files - and 2) The registry is something you shouldn't toy with if you don't understand it. If you don't, learn a little about it first (google). I ONLY deleted the VSL folder. I basically just uninstalled it manually more in depth than the uninstaller actually does (most programs leave traces on your computer). Once there was no trace of VSL ever being on my computer, I reinstalled and my library was back. (this was my last resort before either 1) reinstalling Windows and trying again, or 2) seeing if it was a problem with my e-licenser with their support.
Hopefully this helps you or anyone else that reads it.
-Sean