MArwood

John
This same thing happened with Fruity Loops some years back. It is now called FL Studio. However the lifetime updates still applies. Further a name change in and by itself is not going impact a contract made in good faith by a person with another. In fact it may be prohibited as a means of voiding a contract. At the very least it would open CW up to a slew of law suites.   
 

 
No John, they did NOT honor the lifetime upgrade.....
I am a Fruity Loops owner.  I bought the Lifetime upgrades for Fruity Loops.  About 3 weeks after I bought it they came out with FL Studio.  My lifetime upgrade DID NOT work.  They said FL studio is a new program. You bought the lifetime upgrade for Fruity Loops.  If you look at the two programs there was not that much difference between FL and FL Studio, it should have been an upgrade.  It was only a plot for more money. I don't feel Cakewalk would ever pull a fast switch like this.
 

Wow - that's such a claim that I had to google it to see if anyone else made the same complaint. Seems it's true.
 
http://www.donationcoder.com/forum/index.php?topic=28276.10;imode
 
Here's the kicker, in http://www.image-line.com/documents/news.php?entry_id=1274226486 ImageLine states" In late 2004 we rebranded Fruity Loops to FL Studio" How's that for talking-out both sides of your mouth? In my way of thinking, a rebranding doesn't negate a lifetime upgrade. I'd say they owe you.
 
Note: I don't think CW would do this either.