I understand that Redgate has invested in Reflector and needs to make some money off that investment. That is reasonable.
However, the issues is that Reflector has been a free (and heavily) used tool for a very long time. Having to buy a license, maintain that license on multiple machines (and VMs), and deal with timebombed upgrades is a real PITA.
What I would love to see is an approach like LINQPad took. Let there be a basic version of Reflector (with the original functionality) that is 100% free. And then let developers pay $35 to unlock the new enhanced features that Redgate has added.
This would make 99% of the Reflector's users happy and many people would happily fork out the $35 to keep Reflector going and use the new features.
You might even make more money off this licensing model since you will not end up seeing some free competitor to Reflector which would kill all the sales.
I realize this would probably be more work, which means more cost, but if you think of the good will that is being lost in this debate and it is probably worth it.
BTW - I saw that you are offering a 14 day trial. I really don't think that is going to appease anyone.