What is a "workstation license"?
When buying Corona Renderer licenses, you can choose how many workstation and render node licenses you need:
1 workstation license + 3 render node licenses, 1 workstation license + 5 render node licenses, or 1 workstation license + 10 render node licenses.
When Corona Renderer is activated ( 3ds Max | C4D ), it will register a license as either a workstation license (where you are working with the 3D viewport, creating materials and whole scenes), or as a render node license (where the computer is used only to render the image, usually when doing network rendering). Corona Renderer determines the license type automatically. You do not have to select which kind of license you want to use, and there are no separate activation methods for the workstation and render node licenses.
A workstation license is a license that can be used on a workstation computer (master computer), where the host application (3ds Max, Cinema 4D, ...) is running in "full" mode - with its graphical user interface, material editor, and all other features enabled, as opposed to a node license, where the computer is used only for rendering. Workstation licenses are used on computers where you are working with the host application to create scenes, apply materials, adjust lighting, and perform other tasks which require you to actively use the host application. The name "workstation license" is sometimes shortened to "WS". For example, "1WS + 3N" means "1 workstation and 3 render node licenses".
All FairSaaS licenses are floating. This means that you can freely move a single node license between different computers. See: What is a "floating" license?