I’d forgotten about this until the other day when I tried to break my licensing for testing purposes.
I spent 20 minutes trying to get Softimage 2011 to not start! No matter what I did it kept starting up, and to make matters worse, my ProductInformation.pit file has some minor corruption that crashes Softimage when I try to use Help > About Softimage > Product License Information. So I couldn’t check where Softimage was getting its license.
I eventually resorted to using Process Monitor to watch the HKEY_CURRENT_USER\Software\FLEXlm License Manager\ADSKFLEX_LICENSE_FILE registry value, and I saw that xsi.exe was sticking 127.0.0.1 into the registry every time I started Softimage. So all I had to do was stop my local license server.