Описана новая процеруда offline-инсталляции: ACTIVATING YOUR LICENSE WHILE OFFLINE
To activate your license even if your computer is not connected to the Internet:
1 In the IAR License Manager, choose License>Offline Activation>Start Activation Process.
2 In the dialog box that appears, type the license number that you want to activate.
A browser is displayed to specify the destination for the activation information file that will be created.
3 Bring that file to a computer with Internet access.
4 Go to https://register.iar.com/activate and upload the file.
5 As a response you will get an activation file to download. Bring that file to your computer.
6 In the IAR License Manager, choose License>Offline Activation>Finish Activation Process.
7 In the dialog box that appears, locate the activation file and click OK to activate your license.
Возможно, что здесь есть лазейка, если наловчиться генерить "activation file", который получают с
https://register.iar.com/activate
P.S. По ссылочке-то
https://register.iar.com/activate зайдите - активатор уже работает!