I got out of this problem by:
Making sure I had Bandlab Assistant 3.0.6 installed (not 3.0.4)
Un-installed CbB
RE-downloaded CbB (it didn't work if I tried to use the original download files)
Install CdB using Bandlab Assistant.
Although this re-install stuck at 100% and didn't complete, I terminated Bandlab Assistant and ran the files which had been downloaded, and all went well.
In my experience, missing out any one of these steps resulted in failure to cure Demo Mode.
During one of the many failed attempts, I did see that Bandlab Assistant in Task Manager tries more than 46 times to open Powershell, which speaks to Noel's point above.
Hope this helps.
(Got immediate feedback from Cakewalk support by email, by the way)