Usually Paypal clears and the email is dispatched within 24 hours. However, I noticed your payment has come up as an eCheque, so it could be a couple of days I'm afraid. I'm not sure why some payments come up as eCheques, probably just a quirk of the Paypal system.
We've had a few cases where users enter an email address which isn't working/is full/etc. and then cannot receive their license email. If it's been a week and there's no sign of an email, send us an email to email@example.com from another account with your transaction ID and we can manually re-send your license.