I am pretty sure this is a stand alone license. I know, when I used it at TE, I had to ping a different license server to access it. Strange and we have very capable, advanced assembly licenses. Still this one, was a stand alone and I did not like that either Dave!
There is a problem with Build M050 of Creo 4.0 (see PTC.com CS286687 for details) such that post-regen relations are not evaluated. Revert back to M040 or up to M060 (SPR 7544762) to resolve the issue.
Larry, we had fun with this question, if even at your expense. 🙂 I hope you had fun too. The answer is, when ever a User from within our ranks has implemented Model Check and volunteers to share with the group what they have learned. We hope that you will consider doing so.