Hi dkeyser,
Backup Profiler (BU) is another product that monitors your backup infrastructure. The bits for BU ship with STM and Storage Profiler, but the license keys dictate whether or not the functionality is enabled. BU is now EOL, but you do own a perpetual license of the software, so it's really up to you whether or not your team wants to use the product anymore.
I'm not sure why you are seeing a trial license message right now. My guess is that will go away when you upgrade and may be related to the fact that the new key, while accepted, has put your STM into trial until the proper version is detected - which will be the case after upgrade. Another possibility is that you may have installed a trial version of one of our other Java-based products on the same machine? All of our Java-based products (FSM, STM, BU, VMAN, LEM) share the same licensing framework and we will pick up commercial and evaluation licenses applied on those machines, even if it doesn't "belong" to the product you are viewing the license manager in.
Needless to say, this would all be much easier to diagnose with screenshots 