There are no (visible) fulfillments in TS. C:\temp\clmutil>appactutil -v -broken
C:\temp\clmutil>appactutil -v -long
C:\temp\clmutil>appactutil -v -valid
To get round this navigate to this location:
C:\Documents and Settings\All Users\Application Data\FLEXnet
Then in this directory there should be a file called vendor_0xxxxx_tsf.data, where vendor= your vendor name and xxxxxx= a sequence of numbers. The '0' following the underscore represents client side TS and an 8 following the underscore represents server side TS. If you rename the file to ?vendor_0xxxxx_tsf.data_backup? or something different from the original.
Then go back and run ?tsreset_app ?reset?or ?tsreset_svr ?reset. Ths will recreate TS and solve the issue.