Below is the details I found on the new feature. I am actually looking to use this for another reason, simply to be able to add a repository user such as an auditor account without taking down the services. If you add repository licenses to the server the recommended way, it requires a service restart.

The question I have is, how in the world do I assign it to my repository in administration console?

There is a new node called Laserfiche Directory Accounts and I thought for sure they would show up in there but no dice

Laserfiche User Accounts

Create global Laserfiche user accounts through the Directory Server administration site. In contrast to Laserfiche repository user accounts, a Directory Server user account is not limited to the context of a single Laserfiche repository. Previously, to allow a user access to two repositories, you would need to add them to the repository as a Windows or Novell eDirectory account, or you would need to create two separate repository users and grant each one its own license. Now, you can create a single Laserfiche directory user and grant it a single license, and use it to sign in to both repositories.