CS3 users, SL to Lion migration. Re-install?

Hey,

Anyone out there migrate from SLeopard to Lion? I did so on the new MBA and I am getting the "Licensing for this product has stopped working" error message that allows nothing to happen.

I deactivated on my old computer already -- but, do I need to just completely uninstall this and re-install it to get it working?

Would appreciate your help.

Thanks! MD