I just bought the Parallax Plug in. after entering the activation key and installing, when i try to open it independently it says there was an activation authentication error, “this software needs and update please go to ilok.com to download the latest lisence support download”. I did this and everything in ilok seems to be in order, it tells me the parallax is active and registered. when i open Reaper it first gave me the same update message, and now it simply wont find it, even after specifically adding the folders that everything was installed to it wont find it at all.
Ive uninstalled and reinstalled 3 times. Please halp, i want bass tonezzz
here is the message from ilok
My iLok-protected software is displaying an error message.
If the error you have encountered is about running the software and not about authorizing, please contact the software publisher for the software plugin you are trying to use. They are the only ones capable of providing support for their software and can tell you what their error message means.
as you can see the error originally says license verification error so thats a bit contradictory in how to get help.
i have the same problem. 
solved the problem! here is a workaround:
Go to System Preferences> Security.
Under the tab “General” you should see the blocked app installation with an option to allow the installation.
Allow> Install the app.