<time> (lmgrd) "test_server"; not a valid server hostname, exiting.
<time> (lmgrd) Valid license server hosts are: "server1"
<time> (lmgrd) Using license file "license.dat"
The machine "test_server" is not listed as the SERVER in the license file.
You are using the wrong license manager server.
The name of the license manager server does not match the actual name of the machine.
Verify the contents of your license file. Make sure you are running the license manager on the server listed (eg. "server1").
Edit your license file and correct the name of the license manager server.
If you intend to run the license manager on a machine other than the one listed in your license file contact ESRI Customer Service to change your SERVER line.