I may be wrong, but based on the installation that I just did, the answer to you question should be yes.
There are two installations required to enable CPS.
BEWS_11D.7170_32BIT_Install is the base install of 11d. After that is installed, BEWS_11D.7170_CPS_32BIT-X64_Install is the add-in for CPS, which seems to be it's own thing with it's own console. In other words, you dont setup CPS jobs in the Backup Exec 11d console.
The only time it seems to be an integrated portion of the Backup Exec server is for Exchange jobs that you designate for continous protection. I dont know if there are separate remote agents anymore, but you are required to have the AWS (and no, dont know what that stands for) remote agent (at least that was the word from tech support) with it's serial number to install and use CPS (that agent serial number is the serial number that is required when you do the actual install of CPS).
So bottom line is that you may just end up paying for CPS via the remote agent, even if you dont install or use the CPS server installation.