Yes, it is still possible to use the tool, however every toolkit license is being turned into MU type instead of IGC for every not active server license subscription. The IGC version of the tool is only for exclusive use of customers of active server license subscription.
To read more about difference between MU and IGC license type of ToolKit (Premium) refer to other article of the FAQ.
Switching between IGC and MU ToolKit (Premium) is automated, dependent from server license subscription status, however may require tool restart to apply the change.