Found a workaround for this, changing your IP address without having to wait the 7-10 hours with your modem unplugged.
http://m.wikihow.com/Change-your-IP-Address-(Windows)
I used the Linksys router option #1. Once I finished this, I restarted the launcher for NW and it allowed me to login without the "too many attempts" error. It does however have a gigantic patch. I'm not sure if this is just a regular patch, or something it's doing because it sees my new IP and thinks I don't have the proper info. Anyway, hope this helps.
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http://swaptrick.deviantart.com/