(
IANAL & TINLA)
Everything is generally licensed under the zlib/libpng license. The bzip2 and lzma compression modules have a different license and the old lzma license is a bit complicated but we have a special exemption .
The 3 licenses can be found @
http://nsis.sourceforge.net/License but you will not find anything that specifically calls out the license for the produced installers AFAIK. zlib and bzip2 basically boils down to this snippet "Permission is granted to anyone to use this software for any purpose, including commercial applications" for binary distribution and the restrictions mainly apply to the source code.
The way I read our lzma license is that since it does not apply to what we call exehead (the base of the produced installer) and the non-compression parts of exehead are zlib the entire thing becomes zlib. The good news is that LZMA became public domain in late 2008 (
http://7-zip.org/sdk.html# 4.62: LZMA SDK is placed in the public domain) and now the license is just: "LZMA SDK is placed in the public domain. Anyone is free to copy, modify, publish, use, compile, sell, or distribute the original LZMA SDK code, either in source code form or as a compiled binary, for any purpose, commercial or non-commercial, and by any means."