ARM Cortex-M1 licensing issue

So, I have this ARM Cortex M-1/Cyclone III development kit. While I expected that the kit would be locked to the seat running SOPC, I had hoped that the resulting ARM core subsystem could be exported to other team members for them to compile into their portion of the design.

Yes, I can have multiple simulations using models, but it seems that only one Quartus seat can be used to create POFs. Kind of makes my other Altera licenses redundant, which cannot be Altera's intention.

Hopefully, I have overlooked something.