Open swype installer, and see if it says it was not properly licensed or if it says it was made for another device. If it was not properly licensed, follow the instructions given in the app. If it says it was made for another device, uninstall swype, then reinstall it.
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This happens to me sometimes; long-click in any text field and change your input method to another keyboard, and then change back.. that usually does the trick.
Swype was an app that I really missed. I couldn't get it to work either. Downloaded the trial version of SlideIT 3 days ago and love it! Haven't been asked to upgrade to paid version yet....
