For what its worth, I migrated a physical server (old R220) to a virtual server earlier this week and the license was fine. I stayed on 11.0.4 SP7 though. Neither myself or the customer wanted any potential 11.1 headaches. I backed up the voicemail, sent the config to the new server, restored the voicemail and job was done. Just had to regenerate the license file to the new host ID.
From what Avaya told me when I asked a couple years back, the virtual SE license is used for tracking (and it costs more), but PLDS doesn't differentiate between a virtual SE license and any other SE license.