For reversers:
Protection: ElecKey 2.X Internet, Enterprise, or Ultimate.
Very old and unusual protection I have not heard of until now. Simply spoofing the callback upon sending a key to Deactivation.exe will most likely not be enough as there may be another check in FallenDoll.exe. Note that FallenDoll.exe gets the activation app to launch from KCAP.ini. Simply returning "true" in Deactivation.exe was not enough for me from my experiments.
Searching the internet I have been able locate some versions of ElecKey 2.X, however since the protection is not really used that widely, the only two links were from ~2009-2010, and their download link has expired long ago, as expected.
The way I see it is the following 2 options:
Option 1:
Figure out the key generation scheme from how it checks the activation key. From the Deactivation.exe, a keycheck can be found:
this.Kc = new KeyCheck(1721994409u, 1, 0, 0, "KPKWFJ5BLS7L4HQVGLXXTEGF", Application.ExecutablePath);
, where "KPKWFJ5BLS7L4HQVGLXXTEGF" is the "InitLicenseKey", aka. most likely product code.
Using this, it is very likely a proper key can be generated, however the method "buttonActivate_Click" should be patched appropriately to not make a call to the server. I highly doubt any kind of asymmetric key algorithms are used in the process of key generation.
Option 2:
Unpack FallenDoll.exe and patch out the licensing. I do not possess an unpacker that can handle it though.
Either way, regardless of option 1 or 2, patching seems inevitable. Option 1 (from the looks of it) seems to require patching of Deactivation.exe only, whereas option 2 will require patching of FallenDoll.exe.