JChem for Office works with the standard ChemAxon licensing infrastructure, and also allows several points of extension. If additional license files are specified, JChem for Office takes into consideration all of the licenses. Since JChem for Excel is part of the JChem for Office package, the JCO license is valid for JCXL as well, but the JCXL license is not appropriate for JCO. When installing JCO you can decide if you want to install it together with JCXL, for more information, see Installation.
The default location of the license file (license.cxl) is:
C:\Users\<current user>\chemaxon
For more information regarding licensing, see License Management.