I do understand that the initial email wasn't very clear. We no longer require you to have an iLok dongle, but we are still using the PACE system for the plug-in license, and they're still using the work iLok for a lot of their branding. So what you need to do is create an account at http://www.ilok.com and download their iLok License Manager software to install on your computer.
Once you do this, you can register your plug-in on eventide.com, which will send automatically send a license to your iLok account, which will appear in iLok License Manager. At this point, you can move this license onto your computer and the plug-in will be authorized and work. Alternatively after you've installed iLok License Manger and registered the plug-in, you can launch your DAW. Once the DAW scans the installed plug-in it will present a dialog box to install the license on your computer.
Sorry for the confusion, this is new to us and we didn't anticipate all the problems people might have, but we should have done a better job communicating the situation. We're planning to release new installers early next week that will streamline this process and clarify the situation in the manual.
If you have any other questions, please ask.