EDIT: You can make your current licensing scheme considerable more difficult to crack by storing the registry information in the Local Security Authority (LSA). Most users will not be able to remove your key information from there. A search for LSA on MSDN should give you the information you need.
Opinions on licensing schemes vary with each individual, more among developers than specific user groups (such as photographers). You should take a deep breath and try to see what your target user would accept, given the business need your application will solve.
This is my personal opinion on the subject. There will be vocal individuals that disagree.
The answer to this depends greatly on how you expect your application to be used. If you expect the application to be used several times every day, you will benefit the most from a very long trial period (several month), to create a lock-in situation. For this to work you will have to have a grace period where the software alerts the user that payment will be needed soon. Before the grace period you will have greater success if the software is silent about the trial period.
Wether or not you choose to believe in this quite bold statement is of course entirely up to you. But if you do, you should realize that the less often your application will be used, the shorter the trial period should be. It is also very important that payment is very quick and easy for the user (as little data entry and as few clicks as possible).
If you are very uncertain about the usage of the application, you should choose a very short trial period. You will, in my experience, achieve better results if the application is silent about the fact that it is in trial period in this case.
Though effective for licensing purposes, "Call home" features is regarded as a privacy threat by many people. Personally I disagree with the notion that this is any way bad for a customer that is willing to pay for the software he/she is using. Therefore I suggest implementing a licensing scheme where the application checks the license status (trial, paid) on a regular basis, and helps the user pay for the software when it's time. This might be overkill for a small utility application, though.
For very small, or even simple, utility applications, I argue that upfront payment without trial period is the most effective.
Regarding the security of the solution, you have to make it proportional to the development effort. In my line of work, security is very critical because there are partners and dealers involved, and because the investment made in development is very high. For a small utility application, it makes more sense to price it right and rely on the honest users that will pay for the software that address their business needs.