>> "1. Can I get my Adobe Air application to display the expiry date in my software."
https://wyday.com/limelm/help/license-features/
TA_GetFeature()
>> "2. Can I get my Adobe Air application to call turbo activate after the expiry date rather than every 30 days?"
No. But you can handle the expiration by intelligently giving your customers the option of renewing (rather than just dumbly polling, give them the best way to give you money).