Can I repair my version of Photoshop when the license has stopped working?

I just got a message when I tried to open a file in Photoshop, saying that "license for this product has stopped working". I have CS3. I work on a Mac under OSX-Yosemite 10.10.5. The message says that I must repair the problem by uninstalling and then reinstalling the probem. I have the installation disc. If I uninstall and reinstall it will work?

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