The License Agreement says things it doesn't really mean.
An important portion of number 6 states:
"Vienna Symphonic Library GmbH reserves the right to block its Licenses saved on the lost ViennaKey
or on any other lost USB eLicenser upon being notified by the registered user of the loss."
If in fact VSL could do this, there would be no reason not to replace those licenses with new ones.
As it turns out, while technology probably exists to allow the block, it's just not that simple.
Legally can an Austrian company block a key held in the United States? Can the United States block a key held in China?
Can China block a key held in Russia?
I suspect much of the Agreement was drafted before VSL became VSL... Size matters and as a now global major player,
there are probably a number of things in the Agreement that can not be enforced world wide.
Perhaps we'll see a new License Agreement on the new website.