Hi Mark,
I have fixed it myself.
On each client check the parametric.psf (c:\Program Files\PTC\Creo 3.0\M010\Parametric\bin) and change the following line:
ENV=CREOPMA_FEATURE_NAME=CREOPMA_Academic2 ()
to
ENV=CREOPMA_FEATURE_NAME=CREOPMA_Schools3 ()
Save the changes all the software should load. Please also note that if you use Layout,Direct or Simulate, you will also need to change their PSF file replacing Academic2 with Schools3 like above.