This has happened with two fonts this week. The font downloads fine, and I have no trouble loading them. I can print them in my document, but when I try to save the document as a PDF, I get the error message that there are licensing restrictions!!

meaning embedding not allowed. Contact the designer(s).

This is a technical font restriction to prenvent font embedding, you probably need to buy a license to be allowed to embed the font.
Which font is it?

It's AlphaWood. Well, PineWood, too (separate authors). There appears to be no way to contact the designers from this site. Found the website of the AlphaWood creator; email address dead.

Of course, the client LOVES the design with AlphaWood, and I'd really love to use it. Any suggestions?

You can vectorize the text.

Strange enough, I did try that--and got the same error message/result.

@ cndhoffman
With the Alphawood as is there are only limited ways to workaround your problem. The nice one is to NOT to embed the font in the pdf but to make the font available with the pdf and instruct the pdf user to open or install the font before opening the pdf. This sounds simple and it is simple but far from idiot proof. About 99.99% of the people that you send the files to will not understand what to do or simply ignore it. So the nice way will almost guaranteed not work.
Rests the not-so-nice way, dasklem's vectorizing suggestion - which can be done with a short text but is not producing the best quality.

Strange though that Miss Claude set restricted license embedding in a free font ...

"Strange though that Miss Claude set restricted license embedding in a free font ..." - koeiekat

I checked through some of my older fonts that have read me documents, isolated the designers that were offering freeware or equivelent* (*ie: e-mailware or postcardware, for example), and there weren't many that restricted embedding, and most of these were primarily dingbat font designers.

Notable freeware designers whose fonts do not allow embedding: Rev Josh Wilhelm, Ben Nathan, abecedarienne, Alli Paterson, Dani Foster Herring, Denise Clendenon/Ozmee, Dieter Schumacher, Jim Fordyce, Listemagarens, Mike Gaines, Patrick Broderick/Roto Design, Shrine of Isis, Vin Rowe, Nikos Goulandris, antavania, and Eduardo Recife, (to whom every grungy script designer owes a huge debt of gratitude)

Most of these fonts are from the late 1990's/ early 2000's, as is AlphaWood. I think most, if not all, were made with Fontographer, which was pretty much the only choice at the time.

~bito