I see that in the 14.7 Xilinx License Configuration Manager (XLCM) there is now a tab called Borrow/Restore Licenses.
It is not documented in the release notes of the ISE 14.7 or Vivado 2013.3 tools.
What is the purpose of this tab?
The 14.7 XLCM was enhanced to support Activation based licenses.
Activation based licenses will be able to be checked out or borrowed.
Activation Based licenses are not yet available for Xilinx products, but Xilinx intends to make them available in the future.
On the Xilinx Product Licensing page, there is a space "reserved for future use" named "Activation Based Licenses" under the "Create New Licenses' tab.