Since POV-Ray (for Windows, at least, I don't know about other systems)
is already able to access the internet to give some feedback or check
for updates, why not :
- set an expiration date in the binary
- once the expiration date is over, if there is no new beta,
   POV-Ray can get some kind of "certificate" which allows it
   to continue working as long as the Team wishes.

(of course, this has problems like "not every machine running
  POV-Ray has internet access", etc.. but it might be a nice
  solution for most people)

It could also take the form of some "licence file".

Fabien.

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