Why is it not counting conversions after completing two referral registrations?

A.Most likely it's because of our anti-cheating system, that has the following rules:

   1) One person (one browser session) can make only 1 conversion per campaign.

   2) One IP address can make only 1 click and 1 conversion per unique referral link.

   3) To make a conversion, the  user should have a marker in their cookies showing that they have clicked on a referral link, and that the click has been recorded.

* To test your own campaign use a incognito browser.  To test more than once, refresh the incognito browser each time.