The first thing I'd do is reboot the server and try it again. Res 3.2 had some flakey problems with License Manager and that may clear it up.
If that doesn't do it try this, (obviously before service starts).
Open the license manager, check the main Demo Mode box save and click Reload.
Go to the enterprise office tab and uncheck the EO Demo mode box. It will pop right back to checked but that's ok.
Now uncheck the main Demo Mode box, save and click Reload.
If the EO Demo Mode is checked, uncheck it, save and click Reload.
If it still isn't working it may be something with the dsm log so give this a shot.
Bring Micros to Off in the control panel.
Open a command window and run this command to stop the dsm service: dsm -stop
Open windows explorer and go to Micros\common\etc. Find dsm.ltf and delete it.
Reboot and try to take it out of demo mode again.