On twitter John Troyer retweeted a question a couple of days ago which basically came down to the following: When your VM which contains the license server goes down and has been down for longer then 14 days you will not be able to actually boot it up. This is because the grace period has expired.
As a VMware PSO Consultant my recommendation is to make sure you always have a “host based” license file laying around. In a normal situation you don’t need to use it. But in a situation like this it will be very useful because you can just change the license to a host based license instead of a “license server”. This would enable you to actually boot up the License VM. When booted up you could easily revert the changes again and point to your license server again.