The software vendor - if they have any competence - should be well aware that the CPU clock cycle no longer has a direct bearing on performance. A 2.0GHz Core2Duo is actually WAY less capable that a 1.7GHz Haswell i7, for instance.
The idea that a higher clock speed means more performance stopped being accurate sometime around 2001.
Is it possible to run the software on a trial basis? Unless they did something really stupid, like have the software actually check the clock speed and refuse to run without even trying, then it's doubtful you'll have problems. If they DID do something bone-headed like that, then you really, really need to find an alternative if you can, because that's just stupid (and who knows what other ridiculous things they did with their code?).
That said, I really WOULD like to know what software package this is.