I am working with Readiris 12.06 on Lion. It works.

The actual version of Readiris Pro is 12.0.6 since quite some time before the Lion release. And this DOES in fact work with Lion here.

Uhm… The description of the app says "Unfortunately, version 12 is greatly inferior to version 11. And it doesn't work with Lion"… And yet the icon says "works fine". So which is it?
Also, the app is available in the App Store. But again, is it compatible with Lion?
Also, the following page serves no purpose: http://roaringapps.com/app:3754

@George:
I don't know who wrote the description first - but it its NOT correct.
Readiris Pro 12.0.6 (which its what I have on my iMac) does work with Lion, so i corrected the original "not working" flag to works fine.

P.S.: I bought Readiris from their website, not through the Mac AppStore - so I can't speak for the 12.5.0 that you get there, but since the version number suggests a newer version, it probably should work in Lion.

P.P.S.: beware - this Readiris "Pro" does have a limit to 50 pages for each document, which can be quite annoying and surely isn't something you'd expect from a Pro-version, maybe if it was called 'Lite' or 'LE'..

This is NOT mentioned in the App Store description (IMHO to conceal such an arbitrarily set limitation is near to fraud).

And another beware: DO NOT expect any free updates at all for this software. As mentioned I have the 12.0.6 bought from their online store and they do not offer any updates at all - additionally, there is no way to check for you if they have a newer version available on their site.
I only saw from the AppStore, that they have in fact a newer version..

@Stevie Jobs: Thank you for the informative reply. I appreciate a lot such feedback.

Here is a fix for one of the problems (the error about needing administrative rights) - it should(!) work on all versions of ReadIris 12 though I have only tested on Corporate. Having installed from the CD that came with my IRIScan Office Pro under Lion I got nothing when I tried to run ReadIris Corporate. I then installed the 12.05 update. This gave me the Administrator Rights problem. Rerunning the installer made no difference.

Although you may be logged in as a user with admin rights, ReadIris doesn’t appear to actually run with elevated privileges unless forced to. What you need to do is temporarily give it administrative rights – here is how…. (you will need to be an administrative user, of course).

Open Terminal.app

Type “sudo bash” (without the ” marks) and press enter. This will then ask for your password (the same as you log into Mac OS with). Once you’ve entered your password you’ll get another terminal prompt.

Then type (without quotes) “cd /Applications/Readiris Corp 12/Readiris.app/Contents/MacOS” and hit enter

Then type (without quotes) “./Readiris” and hit enter.

This should run ReadIris and ask you for the serial number. Enter your serial number. You then need to request the activation key, which seems to require registration, so I did that, and immediately received the four digit alphanumeric code in an email from IRIS. Enter that, and it should work. Note – You will then need to quit ReadIris, and start it normally as your own user by clicking on its icon.

Back in the terminal window you should see some exit messages – these don’t matter. You can just close the terminal, ignoring any warnings. Or if you prefer you can type exit repeatedly until it goes away.

I’ve only tested this with Corporate, but given the nature of the problem, it ought to work with any version.

hope this helps someone

Andrew