No, Neo:6 can't be applied to a 7.1 PCM, because it's already using all 7 channels.

But Neo:6 -or- PL IIx can be applied to a 5.1 PCM. Where as some receivers limit the user to applying PL to Dolby bitsteams and Neo to DTS.

Yeah, all the bitsteam gets you is a light.

Pioneer PDP-5020FD, Marantz SR6011
Axiom M5HP, VP160HP, QS8
Sony PS4, surround backs
-Chris