I had this issue after updating an EDN license recently - hope this helps someone avoid the same frustration and save some time.
After updating an EDN subscription in ArcGIS Administrator then opening an existing Visual Studio solution that uses ArcEngine components the following message appears after a few minutes:
When you click on the OK button the ESRI licensing code kills the Visual Studio process with no warnings and no option to save changes – very annoying if you are in the middle of writing code.
After a bit of searching I noticed that the old authorizations are still listed in the ArcGIS Administrator > Engine > Availability list. Surely the ArcEngine licensing code would ignore expired licenses and just check for current ones? – Apparently not.
To fix this issue go to the ArcGIS Administrator > Support Operations and click on Deauthorize. Select the expired licenses and click next . After removing the expired licenses I haven’t seen the ArcGIS Engine licensing issue in Visual Studio.