This is a known bug. Some VST hosts don't allow us to capture the clipboard, so pasting is not possible.
A workaround is to paste the key directly in the file that StereoTool saves its current settings to.
On Windows, this is an .ini-file located in C:\Users\{your username}
It has the same name as the VST dll you're running in Ableton (so for example: vst_stereo_tool_64.ini)
Close Ableton, search for the line "Registration key=" in the ini-file and paste your license key (including the <>) after the =
Upon reopening Ableton, Stereo Tool should detect the key.
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