Hi alliedcomputer,
The only thing the license does for you is provides you with access to auto updates. So, yes you can use the plugin in both environments. I would suggest attaching the license to the beta site so you can run auto updates during development (without having to manually update), and then change the registered domain once you’ve gone live. You can do this easily through the Account Central > License Keys menu above.
Let me know if you have any other questions.
Regards,
Jonah