In order to enable changing the license key the following steps must be taken:
1. Open in notepad the following file "%ProgramFiles%\Microsoft Visual Studio 2008 Team Foundation Server\Microsoft Visual Studio 2008 Team Foundation Server - ENU\setup.sdb"
2. Locate the [Product Key] section
3. Change the 26 license key to one that listed upon.
4. Run again the Change/Remove for Microsoft Visual Studio 2008 Team Foundation Server - ENU from Add or Remove Programs
5. The CDKey entry should contain the new license key or should enable to edit it (in case of a trial key)
The path and the name of the entry in "Add or Remove Programs" is different for installation in different languages.