If you "bought" your copy from a legitimate supplier then yes you have complete and unfettered use of the software. The only version that times out is the free demo (which you shouldnt have had to pay for).
Yes you can install the software on more than one computer. The restriction is that it should be your own computer (EG I have it installed on my desktop computer and two of my laptops but they are all my own computers).
The other thing to remember is to come back here and frequently tell us how you are getting on
This is a great community and if you run in to problems or you aren't sure how to do something you are more than likely going to get a helpful answer here.
Also have a look at the tutorials sticky at the top of this forum.
Good luck and have fun!!