APM Limited on LTM VE not working

I have an LTM VE lab edition (10.2.1 HF2) that I provisioned APM Limited on. I configured a web app and got everything setup with no user restrictions (although I understand the APM limited restriction is 10) and on first request (and all subsequent) to the APM virtual I get:

Your session could not be established.
The session reference number:  
The maximum number of concurrent user sessions has been reached. No new user sessions can start at this time.
Any ideas?