I have a license.

Is it allowed and/or possible to use EE2 licensed on two computers.
I have one at home and one at work.

Do I need two licenses for that?

..good question..its same with me..I was thinking to install Esenthel on both machines, but it will never both run at same time, as im the only user..is there any issue with multiple installations, long as its only one working at the time?

Once you run Esenthel on second computer with your license key, it will ask you to change the Computer ID in the store (it will give you the ID needed to do that).
After you do that you can use it without limitations on the second computer,
You can first however sync project data with the Server,
Then change computer ID to second computer, open Editor on it, and receive all project data from the previously running server, and continue working on the project.

This allows to work on different computers, however only one computer at a time.
If you need two computers at the same time, you need to have 2 licenses.

Nice ... that sounds just great