Using the latest Neo Beta, the CS5.5.1 update, and Win 7:
All seems to work well enough, but I notice that I am getting the yellow render line on all CF clips, even though the sequence settings are correct for the CF footage.
What's that about??

Yellow is normal for CineForm sequences with CineForm files. It just means the codec isn't native to Premiere but the files themselves should perform in real time on the timeline.

I remember we had the yellow when CS5 was introduced, but I thought it was eliminated at some point.
Guess I remembered wrong...

Bob, you remember correctly. I had no yellow lines before this new update to a consolidated Neo. Happily though it's not an indication of needing to render.

Thanks, Ben.
At least I wasn't imagining things- or worse...