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Because the initial beta2 period has ended, in order to continue using the beta2, you must be issued a Flash Builder 4 beta 2 license, and you get it by going to this web site and entering your FB3 license number:
You still need to buy Flash Builder 4 when it is released.
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Greg Lafrance - Flex 2 and 3 ACE certified
Flex / AIR Development, Training, and Support Services
I think this answers my question, but can you clarify:
1: To continue using Flash Builder beta 4, I have to buy a license for Flex Builder 3, a product which I do not want and will not use.
2: Even if I buy this license, I will have to pay an additional amount to use Flash Builder 4 once the full release comes out.
The problem is that FB4 isn't released yet. At some stage it will be released and often companies offer free upgrades to recent purchasers. Unfortunately Adobe haven't announced anything like that yet so you are in what is a bit of an uncertain position. If I were you I'd email the licencing team and explain your circumstances and see what comes out.