Did you activate the software using your normal email and password in the Activation tab? I checked your account and you do have activations available. As Jim reported, there is some issue with having 1.2.3 activated along with 2.0 but so far we have had success with activating 2.0 in all of our tests.
The normal behavior of the trial is 48 hours then 10 minutes after every launch. When activated this limitation is removed.
Regarding the eq pad:
Each square is a parametric equalizer like we use in the studio. Unlike a graphic eq where the frequency is fixed for many sliders (bands), a parametric eq gives you fewer bands (2 in this case) with the ability to change the frequency in each band.
So each of our eq pads can only affect one frequency at a time. For example, you can set the bass frequency by moving the dot left to 100Hz. Then boost 100Hz by moving the dot up from that horizontal position. But it can be simpler than that…
The way we use a eq in the studio is NOT by thinking about numbers. We grab the knob and turn and listen. This eq pad is meant to work this way. Just grab the dot, move it around and listen to the effect on the sound. For some songs the effect will be small. With other songs the effect will be large. This depends on the frequency content of the media you are listening to. These two eq pads are extremely powerful for customizing your sound. Much more so than normal bass and treble.
Please let me know if you want any more clarification on the eq pads. Eq is certainly an art and we want so share it!