>> "Based on your documentation, it seems like we would have to offer the license as a "verified timed trial" (https://wyday.com/limelm/help/trials/), is that correct?"
Yes.
>> "If yes, then I was not sure how renewal of time trials would work."
Covered in that article: https://wyday.com/limelm/help/trials/#extensions
>> "Also, just making sure that the time trials are tamper proof, i.e., the "time elapsed" is checked by connecting to the LimeLM server and hence the system is robust to the user tinkering with the system clock."
It uses a combination of methods, and every new version introduces new fraud protections.