OK Gary that happened to me as well and I got past it somehow I can't remember exactly what I did but when I got that error I moved the USB from the keyboard to the front of the G5 and rebooted and then it worked. Take your other keys such as Logic or Mach5 or whatever out and just use the VI key for nowand put in somewhere else and try again. btw I am using 5.0.0.1. Then run the Licence Control center to verify that its working. and repair disk permissions again.
Try the standalone again (it will still take time to read the library when it first boots) and you will see the spinning beach ball but when you move the mouse after a minute or so you should see the message in a silver box: please wait reading data. Then you are laughing. Load an instrument and play it to verify. Once thats done it should load fine into DP and you'll not have these hassles again unless you move the key and that may be ok too.
Try the standalone again (it will still take time to read the library when it first boots) and you will see the spinning beach ball but when you move the mouse after a minute or so you should see the message in a silver box: please wait reading data. Then you are laughing. Load an instrument and play it to verify. Once thats done it should load fine into DP and you'll not have these hassles again unless you move the key and that may be ok too.