Just realized the pkg FIX is a debug update (maybe thats why it didn't create the update folder - used PS3 Tools 3.5 to verify if the pkg could be decrypted) in theory i shouldn't have any problems (update 1.01 is 3.6) but i really don't know anymore
Managed to get it working, I created my own fix with PS3Tools 3.5 EBOOT fixer
Here is what i did for anyone who is also having troubles or wants to fix their game themselves. (tested in internal) (BLJM60992 Hyperdimension Neptune MK2)
1. FTP the game to the GAME folder
2. Use the Retail Update 1.01
3. When the Update folder is created in hdd0/game/BLJM60992 (not the GAMES folder) grab the EBOOT.BIN from there and drag and drop the EBOOT to fix.bat in the scetools folder from PS3Tools 3.5 GUI
4. Follow the instructions and you will get two files: EBOOT.BIN and ORIGINAL_EBOOT.BIN
5. Go to hdd0/game/BLJM60992 and replace the EBOOT.BIN there with the one in the scetools folder.
That should get the game working. Thanks Tidusnake666 for (at least) pointing me in the right direction
The problem with the FIX posted in this thread is because its a debug update (that's what i think)
*BOWS HUMBLY* You once again have out done your self bro. There are no words to describe how happy you just made HALF of jersey.... very time I hulk smash someone it will be in your honor!!!!! UNBELIEVABLE!!!