In neo 3d is depht tilt identically with conversion settings or what's happened to my file if I use it?

What is meant by "identically" above? Try out depth tilt, it can be quite useful.

But what kind of parameter you manupulating with depth tilt?

Eye independent horizontal stretch or crush.

Would depth tilt then be useful in situations where there is too much 3D which is to say if too great an interocular had been used for a particular shot?

Not quite. It is designed to address scenes that have more foreground objects on one side of the screen (and backgrounds on the other.) With dpeth tilt you can balance this scene more left side a little back and the right side a bit foreward (or vise versa.) Works great for over the shoulder two-shots.

Understood - thanks.

works great, had 2 scenes where the 3D result is much better now with depth tilt used!

It is crazy that is works so well on some scenes. This was a recommendation of a great 3D DP at NAB this year, so we added a few weeks later.