I found the answer, but you're not going to like it.
Above I mentioned making two Image BU's... The first one I call the base, it is basically just windows and Macrium. This is a "FULL BU"
Then I install all my favorite software, and make another Image BU, this one is an "INCREMENTAL BU".
I figured out the problem by restoring the 1st image "FULL BU" and noticed that Windows was registered, so I ran the Windows update, and when prompted I rebooted, and checked again, and it is still registered.
Then I restored the 2nd Image BU, "INCREMENTAL BU" and noticed it was NOT registered, so I ran the Windows update, rebooted, and checked again, and it is NOT registered.
So FULL Image Bu's with Macrium save the windows registration info, INCREMENTAL Image Bu's do NOT save the windows registration info.