Try the following:
If a version (demo or full version) of the V-Station has been installed on the computer before upgrading to V-Station 1.4, look under :
Mac HD/users/home/library/preferences/
If there is a file called com.vsoft.novation.vstationV1.plist , drag this to the trash. Empty the trash and reboot the Mac.
When the Mac reboots, open the applications/utilities folder and open the terminal application. At the command prompt, copy and paste (highlight and Apple ?C? to copy, click where the text is to go, Apple ?V? to paste) the text:
touch /Library/Audio/Plug-Ins/Components/
press enter. Quit the terminal application. Restart the Mac.
When the Mac reboots, try and insert the V-Station to an audio instrument track. The unlocking window for the V-Station should now be shown.