USB guard key is not recognized on Windows 7 64bit. On the License Setup screen, the Software Guard ID: column at the bottom shows “Not found”.
In the case of the environment you inquired about, please expand "To install a sentinel driver on Windows XP Professional x64 Edition or ..." from the URL link below and set it up according to the procedure described there.
http://quartushelp.altera.com/10.1/master.htm#mergedProjects/global/install/install_pro_setupsg.htm
* Windows XP/Vista is mentioned, but 7 is the same.
After the installation is complete, check that SafeNet USB SuperPro/UltraPro is displayed in the Windows Control Panel. After that, start Quartus II and check if the USB guard key is recognized.
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