With regards to your activation key, I'm afraid I cannot advise, and on that you would need to ask 'customer support' -better to know for sure. I purchased the lifetime licenses for all of my Fab products, so uninstalling and reinstalling has no issues with license applicability. I don't understand when you say that you've added "..so much work related data to my C drive with V12.0.6.2..". Surely whatever you've added to your C drive with regards to 'work related data' it's independent of DVDFab folders? And if the folder (is) within the DVDFab folder, just copy and paste it elsewhere on your drive. That way, it won't be lost if the worst did happen.
Plus, aren't you going to face the same "..a lot grief to move all the new data and app tweaks, etc.." when DVDFab do eventually release an update -coz you'll reinstall the new version anyway? Although I guess reinstalling over the current version would retain any personalisation's you may have made to background templates etc within the software. However, bear in mind, continually overlaying one version over an existing one does in itself pose the risk that eventually it may become corrupted and then you would have to do a complete 'clean' uninstall / reinstall.
I create my own backgrounds / thumbnails etc for each title I burn to Blu-ray in separate folders on my 'D' drive. That way when I update to the latest version, granted my templates have all reverted back to Blu-ray Creator's defaults, but it's no real hassle adding the backgrounds etc back again and 'saving' as a default within the program -coz I already have them saved in their own dedicated folder.
Sorry if I'm not being much help here dude. Difficult to appreciate another's situation when only going by forum posts!!
My first bit of advice remains your priority though, ask customer support about your 'activation key'. Once you know where you stand with that, you'll know what your next step can be.
And currently as it stands -v.12.0.6.2. doesn't work. So your choice remains the requirement to either backward step to a previous working version or wait for DVDFab to sort this out! If they even recognise there is an issue to resolve. Personal experience with their support says 'don't hold your breathe for a quick fix'.