I have purchased Myibidder and have entered the product registration key per the instructions "(click Help - Enter Key)." However it keeps telling me that I am using the trial version and I am now down to 5 Days left.

Please check the instructions in the Order Confirmation email where it shows what username you need to use to login to the sniper and what key you need to enter.
If you can't find that information in the email, please feel free to forward it using Contact form