My 2 cents:
Different countries, different rules.
If the license authorizes using the recorded material, free from copyright, and by "using" it means mangling with it using a DAW or otherwise, I don't see why it could not include playing back a re-recorded live version of the same.
Reading the license's details (including the fine prints) could be informative in that regard.
Otherwise, pretty much anything goes, especially, after considering the rendered judgement following the case opposing the Taurus vs Led Zeppelin re the Stairway to Heaven song opening theme...
Often a lawsuit is often tributary of the involved parts and their representatives...
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