That seems sensible - I guess what I am attempting is an edge case then. I am encrypting XML files on my licensing server that contain the machine ID. That way, when the plugin decrypts, it knows that the device it is on is sanctioned by the server. It is inspired by this reply from another post.
This approach doesn’t seem so outlandish to me and it is working quite well. I may be needing be the signature functionality you are referring to - my knowledge on the matter is limited, but I think I have read about it elsewhere as well. AFAIK this specific functionality isn’t supported in JUCE, though I would be happy to learn otherwise.