We are in the process of renewing the license, but are experiencing some delays as the requisition makes its way through campus bureaucracy. We hope to make a new, valid Mathematica license available on the license server soon.
UPDATE
[2008-02-20 15:18:16 | Lars Rohrbach]
An updated license file now extends expiration to 2007-08-31.
Resolved as of 2007-08-06 14:30:00