restored partition - Max5 ceased to load

Hi

I had to restore my harddrive this morning. I did this onto a bigger partition.
When opening Max5 the first time it asked for registration, I went through the online registration process, dialog box told me its authorised, clicked okay, a fraction of time later Max crashed.

Max 5 crashes now on every attempt to launch it, or relaunch, or reset and relaunch.
I deleted all preferences I could find, I reinstalled Max5, no difference.

Max4.6 works fine (at the moment in Demo mode)

MacBookPro Core2Duo 2.33 OS 10.5.6

Any ideas?