If I am not mistaken, the iLok is for authorization of the plugins not for Pro Tools itself. I have the mBox and I have been able to successfully use my Pro Tools without the iLok, its just that I cannot use the plugins that came bundled with the software. You may want to check Digidesign's website or their support forum which are both pretty helpful.
yes he is right the ilok key is just for some not all of the bundled plugins i can still use many of my plug ins
but there are a couple tht you need the ilok for i have the mbox2 factory
with the Le 7 i like the le 7 it is a lot easier to use then the earlier versions
you may be experiencing another problem
i know digidesign is hyper sensitive it wont work with certain mother boards
i had my computer specially made to work with protools because i was tired of trying to find computers that the right chipset
915gv works but not 915 gl or something like that but when you go on the digiidesign site get tech help but be prepared towait a while they are mad slow