View and Print is like it says. Should be in help docs: https://support.ptc.com/help/wnc/r12.0.2.0/en/#page/Windchill_Help_Center%2FWcLicense_LicGroups.html%23
This license makes the user read only and does not allow them to check out or create data, modify and update. They can only search, retrieve and look at information.
The License Usage Reporting tool (on the site utilities page right?) should allow you to see what users have been doing and what license they have been consuming. It should help you find cases where a user might be assigned a license but in a year, never used it. This way you can reassign that license to another user and manage things better.
I have found it hard to use since it takes a while to generate information. I typically use my own queries to look for analogous user activity as indicators of license usage. Have the logged in and when is last time? Have they created docs, CAD or Parts or updated them. Have they created workspaces. Have they signed off of workflow tasks.
Wait, are you referring to the stand alone tool at the command line?