I think you need to register the new version of Lightwave with Newtek. When you get your upgrade to LW8, it will be the new licence key that you need to use to upgrade.
Bytehawk on CGTalk posted this message they had from onevideo about the upgrade.
Yes, you need to register the new serial number through the Newtek Europe website. There is a "Register" tab in the top right-hand corner of the home page. I also send them a spreadsheet telling them who has bought which serial number, and when. They will use these records to send everybody who has bought LW7.5, after a certain date, details of how to download the V8 when it is released early next year. They will know which serial numbers are entitled to a free download. If you were to try to use your old serial number it would say that you had to pay for the upgrade.
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