I've recently moved my dev environment (VS.NET 2008 SP1 on VMWare) over to a new network, using a more restrictive firewall. During subsequent builds, the license compiler (lc.exe) took a long time to complete (several minutes). I assume it was timing out because it was not able to connect through the firewall, but I can see no evidence of timeouts or build errors in the event log.
Do you know if lc.exe does try to communicate back to the vendor's license server, and if so whether it uses a non-http port to do so? Google was not my friend on this one.