Thank you, I did that and it gave me a slightly different error:
However, I noticed it was trying to contact 'undsemlicense02' as a server. There are two server names present in these config files, they both point toward the same server/IP adress, but it must have been causing trouble with the license manager having two different names, or maybe because one of them wasn't the full domain name. I changed undsemlicense02 to undcemlicensing02.und.edu on the server and client ansyslmd.ini files, and in the license file itself. After doing that the license check works, it shows me all the licenses available and how many are checked out, and Workbench opens much faster.
Success!
Thank you for all your help, I really appreciate it. This has been an issue for awhile now and I'm happy to get it resolved. Thanks again!