I've just got the same problem. I have the PSP Total Pack, and i've been using Neon ok. I've never owned an iLok before because I hate the concept. But because I've paid for Neon HR, I want to use it. I've got the license on the iLok dongle. I've run the Neon exe and I can see the .dll in my VST folder, right above the normal Neon .dll. But Cubase SX4 doesn't show Neon HR in the plugin list.
Is there some problem with having both versions of Neon installed?