Here are the instructions for activating a personal license renewal.
1) Open the Registration window (from the Panorama menu)
2) De-activate the serial number (you'll be asked for confirmation, continue until deactivation is complete).
3) Now press the Activate button, enter your original serial number and press Submit.
4) You'll be asked for the last four digits of the credit card you used to renew the personal use license. Once that is entered you are ready to go.
You'll need to repeat these steps for each computer that is using the personal use license.