[Qsys] LPDDR2 Controller (UniPHY): HDL generation fails.

It's not a licensing problem, Quartus Lite handles it fine.

@pctosi: Since you've been successful at just compiling the demo design, try as a next step upgrading the IP. You should see a notice and a button somewhere in the GUI (maybe it was in the project window, can't remember). The C5G demo was done in Quartus 13.1, IIRC. And just in case, are you sure you've installed the NIOS SDK (whatever it was called)?

It might boil down to environment settings. Try "set" in a CMD prompt.