I fixed this by
1. Download Reason 6.5.1 with the sound banks about 3.31 GB and unzip.
2. Removing ignition key.
3. Uninstall Reason 6.5.1 and any authorizer previous versions 1.0 and 2.0 in your control panel.
4. Reboot Computer.
5. Put you ignition key back in to you usb port or hub.
6. Install Reason 6.5
7. Use Firefox to authorize the ignition key and manage license. DO NOT USE IE8. Works much easier with Firefox or Chrome to authorize ignition key with 6.5.