When restoring OS X from a Time Machine backup (or by any other means) you may encounter problems with Adobe CS applications. When you want to start an Adobe CS app, this message can appear:

'Licensing for this product has stopped working'

This is what Adobe have to say about this know issue:
The Flexnet folders/files required to run Adobe applications can get corrupted, or have permission settings problems, if moved from one machine to another, or through a system restore from Time Machine. Flexnet service licensing failures can't be resolved by re-installating the appliaction, nor will the Adobe CS3 or CS4 Clean Scripts solve this problem. If permissions issues prevented the FLEXnet licensing service from launching, accessing its data, or communicating with Adobe processes, the licensing failure is expected.

The solutions may vary, but your best bet is to delete the following folder:

[hard drive]/Library/Preferences/FLEXnet Publisher/

For more information and further details refer to this document:
http://kb2.adobe.com/cps/512/cpsid_51260.html

macosxhints.com now have an easy solution to enable backup on mounted network drives with Time Machine: type the following in your Terminal:

defaults write com.apple.systempreferences TMShowUnsupportedNetworkVolumes 1

and Time Machine will let you select mounted network drives (under Set up Time Machine / Change Disk). I have no idea how reliable it is to use Time Machine with network storage and what kind of format is best. I still use a Firewire disk. Another issue is, that Time Machine will eventually fill all available disk space, no matter how many TB you have (more on this issue discussed here).