I get the same BSOD when I open LMTOOLS and select the System Setting tab. BTW, the BSOD happens on every subsequent boot until I perform a system restore.
After 2 days of struggling, I found the resolution a few minutes after posting.
I downloaded/installed/executed the Mentor License Utility, and I noticed there was a non-existent license.dat file path (in red text) specified under "LM_LICENSE_FILE - System Variable." I right-clicked the path, and selected Remove From List. I then selected SAVE. My system is now working from the correct license.txt and USB dongle.