The current release of Cyberlink PowerDVD Ultra 7.2 ONLY installs for ONE format either Blu-ray or HD DVD. By default with NO drive active (neither Blu-ray or HD DVD) on your PC the Blu-ray option will be installed.

To view the other format you must uninstall the current version and reinstall.

To install the HD DVD driver with NO drives installed:
Look into the PowerDVD folder. You will see two folders named "PDVDHD" and "PDVDBD".
Rename the "PDVDBD" to anything you want. Then rename the "PDVDHD" to "PDVDBD".
Start the installation as normal. Installshield *should* install the HD DVD version.

I believe Cyberlink is looking into this limitation of the software to enable both versions to be active.

Another limitation you are NOT able to capture any pictures.

This information as all been reviewed at the .AVS forum:
http://www.avsforum.com/avs-vb/showthread.php?t=773218&page=19&pp=30