Deactivating a user's status(including outlook status) will not deduct the number of user licenses for which your company is billed. You have to click on Manage Subscriptions button in the users list page and enter the number of licenses to be deducted and then submit the form to make your changes come into effect.
So I click on "Manage Subscriptions" and then, after staring at the page for a few minutes, I realised I then have to click "Manage your plan"... not very clear at all. This presents a form where I can add users, but not one I can use to request my duplicate profile be removed from the user count as the message above led me to believe.
Any ideas? Many thanks in advance.