Well the speculation is over … Cordovan has stated on the Official Forums;
“As stated in the FAQ, the license has been renewed. Since this license is no different from every other IP license, and since it’s a standard piece of behind the scenes business, it is not something we are going to provide further specifics on. Suffice it to say, the license will continue to be a non-issue for the rest of the game’s life, and we expect to continue developing LOTRO for many, many years to come, with your support. “
Although it was already a safe assumption that the Devs would not have formed a new company, and Daybreak would not have taken them on, if the licence was going to expire in 2 months. Clearly they had the licence dealt with prior to making the decision to form Standing Stone Gaming.