I beleive the homenet is what Sasktel uses to refer to any network which they set up in the home. My system is now set up using two modems, one dedicated for HDTV, and one for all internet and standard Max boxes. These modems remove the need for a switch as they have 4 ports built in.
This is probably the reason VLC can no longer stream the channels (at least not as it did before).
By the way, the service has been very un-reliable so far, requiring many many STB resets.
I would recommend holding off on an instal of HD until the bugs have been worked out, watching football today has been a huge pain, missing over 5 minutes at a time while the box resets. (has happened probably 15 times today)