Pathnames are easy to get wrong. When you edit the path to the vendor daemon in the DAEMON line, be sure the path to the vendor daemon is correct and includes the actual file name of the vendor daemon. If the path is wrong, you will get the following symptom in the license server log file:
18:38:24 (lmgrd) License server manager (lmgrd) startup failed:
18:38:24 (lmgrd) CreateProcess error code: 0x5 File= C:\MentorGraphics\Licensing
Or you may see something similar to:
18:40:38 (lmgrd) File not found, C:\MentorGraphics\Licensing\mgclld.exe
Go to the license file and correct the path. With long paths, it's helpful to navigate to the location of the daemon and copy and paste the path into the license file.