Deactivating licenses from Office 2007?

So here's the situation:
I have a student version of Office 2007 from my college that gives me 2 licenses for the software (the intention is 1 for desktop and 1 for laptop).

My first license went to my inspiron 1405. I later made a clean install of windows (didn't uninstall first) and sold that notebook.

My second license is on this current notebook (in sig) and is still in use. This one is getting exchange for an XPS m1530 so I plan to remove it.

If I call, is there a way of releasing/deactivating the two previous activations tied to my product key? I am planning on getting a desktop and would thus need two licenses (one for the desktop and one for the m1530) and would rather not have to go to the trouble of calling and explaining the situation everytime I want to reinstall Office.

EDIT: This was not preinstalled on my computer.

 

No, there isn't a means of affirmatively deactivating a license. Basically, you install the retail version on the new computer, and if it doesn't automatically activate over the internet, then you'll get a pop-up notification giving you a telephone number to call. See, e.g., this MS forum posting.

By the by, if you got a retail version of Home & Student office, you should have three licenses, not just 2. If you just got two, then you don't have a retail version, but a copy of a volume-licensed version that the school licensed under one of MS's academic licensing programs. If that's the case, then all bets are off, because you may be limited to only 2 installations maximum - regardless of whether or not the software came preinstalled.