1. Install the program.
  a. Make it so that WebcamMax.exe and the patcher are in the same folder; patch the .exe
2. Run the program; click the icon at the top left of the program window if purchasing options are not shown.
3. Click Enter SN.
4. Run the keygen.
5. Disconnect from the internet.
6. Type random numbers into the program's SN box.
7. It will say that it can't connect to webcammax servers and give you options. One of these options is a button that says "Manual". Click it.
8. Copy the machine code into the keygen and click generate.
9. Copy the "Unlock" code that was generated into the "Unlock" box in the program.
10. Click Continue (or whatever it is to enter it) and you're done.

This essentially works with all latest versions. (7.1+.x.x)