This always has been a shortcut to "C:\Program Files\Itoo Software\Forest Pack Pro\LicenseMode.exe". That should have not changed in FP7.
What has changed, is the location of the License Manager, which now is stored at "C:\Program Files\Itoo Software\Common\LicenseManager.exe". Previously it was at "C:\Program Files\Itoo Software\Forest Pack Pro".
The idea is to have the same License Manager both for Forest and RailClone, to avoid problems because using different versions. The next RailClone update will include this change, in the same way as Forest.