I've contacted Zynaptiq about this problem, but I thought I'd post it here to see if anyone has a suggestion.

I bought Eastwest Gypsy a couple of days ago. The installation was totally confusing but I got it going.
It shows up on my iLok License Manager.  But last night I tried to run Adaptiverb and up popped a msg saying to the effect that it wasn't activated in iLok.
Adaptiverb was fine three or four days ago.

After a lot of wasted time trying to fix things I noticed that  the Ilok manager shows  two instances of my computer, each one being a different activation location. One instance for Gypsy and the other one for Adaptiverb and both of them are active.
I can't access the Adaptiverb one because it's "offline".   I can access the Gypsy one no problem.
So apparently iLok thinks my computer is two different machines, each one being an activation location.

Can't help thinking that Eastwest messed something up.
(I have the latest version of iLok manager)

You need to contact the vendors about the plugins...
Possibly you replaced/upgraded some core component (motherboard, harddrive, etc) and now it thinks you're on a different machine.
 
When my motherboard died I still had 2 iLok activations attached to that system.
Since replacing the motherboard iLok thinks they are on another machine by the same name and I can't move the activations, etc.
 
For Adaptiverb, one of the affected, I reached out to the vendor and they free'd up the activation so I could reuse it.
The other one I have an issue with is one of my Eventide plugs - and I just haven't gotten around to contacting them about it.

I did replace the motherboard about 4 months ago, but Adaptiverb kept on working and now it isn't.
Maybe iLok caught on to the different MB when I updated it. 
I'm waiting for a reply from Zynaptiq and they'll probably give me another activation.
Thanks for your input.

The point of the iLok is so you can have a portable license. Anyway I've forced into getting the next iLok due to licensing requirements for some software I want. Effectively I will be getting an iLok 3.
 

When I realized that my PC was dying I finally broke down and purchased an iLok 3 (had a v1) and moved all of my HD activations (except the 2 I missed) to it.
 

Zynaptiq approved a Location Reset for my iLok and everything's working again.
I just bought an iLok 3 USB device (guess it's not called a dongle any more?) which seems a better way to store your activations.