Just to clarify for those who suspect otherwise: Yes, it's illegal (the law is clear and certain). It's also breach of contract (certain, though untested in court).
1) Copyright law protects the right of the owner of the work to set the conditions and circumstances under which the work may be copied, replicated, etc. In this case the owner of the software has specifically and expressly excluded this type of copying. SA (and most countries) have criminalised flagrant copyright violations, especially when money is involved.
2) The EULA for the beta software also expressly proscribes this sort of copying and replication; the user assents to these terms as a material term of a contract. Breach of this material term amounts to breach of contract. Software vendors seldom if ever pursue legal remedies for breach of contract (a private action, and acceptance has to be proved) since most jurisdictions (including SA) have pretty good copyright protection under the criminal law regime.