First - make sure you have the most up to date version of KEPServerEx, downloadable from the mykepware.com webpage.
In this scenario, reinitialize shouldn't work (not with the way KEPServer is licensed), but I'm surprised that restarting the computer doesnt work. The way to fix the problem is by navigating to the KEPServer Icon on the bottom right hand corner, right clicking and selecting "Stop RunTime Service" and then right clicking and selecting "Start Runtime Service". It requires a full start and stop of runtime to reinitialize.
I tried out the "Stop RunTime Service" and then "Start Runtime Service" and that worked as well!
I was really hoping I could successfully start it up again without uninstalling anything or restarting the computer. I didn't realize that "Reinitializing" was an entirely different operation.