No, you don't need to re-install S8.
If I remember right, Copy/Paste doesn't work because it doesn't populate the fields correctly.
Also, make sure you are entering the serial number and registration code in the proper boxes.
They are not the same thing, and it's easy to mix them up.
Watch O's and 0's.
If you, in fact, have an invalid serial number, you may need to call Cakewalk.