I'm having a similar problem, except I CAN open it in Cubase 9. Cubase 8.5 wont open it. I had it in my list but now it wont open. Works fine in C9. I have the latest version installed. Im running OSx 10.10.5 (Yosemite) with 64 bit version or both Cubases.
Hi, do you have the most recent version of Blackhole and iLok License Manager? Did you install any other software around the time that Blackhole stopped working?