Yep, sounds like a driver to me. Try these steps:
1. Remove the dongle from the system.
2. Remove the Sentinel System Driver from your system using the Add/Remove programs Utility.
3. Visit https://www.safenet-inc.com. Click on support, then select basic support and locate the Sentinel Super Pro driver and download this driver.
4. Reinstall the Sentinel System Driver making sure the dongle is NOT connected to your system.
5. Reconnect the dongle to your system and let the New Found Hardware Wizard find the dongle and driver on it’s own.
6. Following a system restart your system should now recognize the USB dongle then run your versioner or dongle update if needed.
-Matt