I installed the RTM (release to manufacturing) version of Softimage 2011 Subscription Advantage Pack, including MatchMover and Composite awhile ago, and I ran MatchMover a number of times with no problem.
Then the other day I re-installed 3ds Max 2011 to switch from Network to Standalone licensing, for a case I was working on. After that, when I tried to run MatchMover, I’d get a message about my 3ds Max license being expired:

But in C:\flexlm\MatchMoverLicense.log, I saw that MatchMover was logging Maya licensing information:
====== BEGIN MAYA LICENSE DIAGNOSTICS Wed Oct 20 08:43:37 2010 ====== 623848 ::: 2 623905 623911 623907 623909 623801 ::: m2010.016 win64, built Mar 19 2010 04:05:31 623802 ::: links in AdLM but not Flint 623833 ::: 'adlm' 623858 ::: 'en_US' 623912 623913 623824 ::: MAYA_LICENSE_METHOD 'standalone' 623823 ::: MAYA_LICENSE 'adlm-128c1-2011.0.0.f' 623826 ::: MAYA_ALT_EN 623830 ::: MAYA_LOCATION 'C:/Program Files/Autodesk/MatchMover2011' 623866 ::: 'C:/Program Files/Autodesk/MatchMover2011/adlm/en_US' 623846 ::: AdLM 1.3.34.0 (D034) win64 623807 ::: standalone MA 128C1 2011.0.0.F 623109 --- MA 128C1 2011.0.0.F 19 623837 ::: 0 623834 ::: 0 623838 ::: 623805 ::: ====== END MAYA LICENSE DIAGNOSTICS Wed Oct 20 08:43:37 2010 ======
So, I opened a command prompt and did this:
cd "C:\Program Files\Autodesk\MatchMover 2011 Subscription Advantage Pack" set ADSKFLEX_LICENSE_FILE=@my-license-server MatchMoverApp.exe
which gave me this Maya license error 20:

After poking around with Process Monitor for awhile, I opened the registry editor and renamed these these registry keys:
HKEY_LOCAL_MACHINE\SOFTWARE\Autodesk\Maya\2011\MAYA-1
HKEY_LOCAL_MACHINE\SOFTWARE\Autodesk\Maya\2011.5\MAYA-1
to something like “xxxMAYA-1”.
After that, MatchMover started and took Softimage license.
A few minutes later someone from Development sent me a much better workaround: set the ADSK_MATCHMOVER_LICENSE environment variable to Softimage.