First, you have to love the new Inventor in-window Vault right-click shortcuts. No longer do you have to use the browser (toggled to “Vault”) but now can simply right-click on the component in the screen and check files in and out….
Finally, the Get Latest and Check-out options within the Vault Explorer have been replaced with a “Get / Checkout” option. This is to make the Vault Client behave the same as the client with the other versions of the Vault (like Vault Workgroup). Files are only checked-out IF you toggle on the checkbox in-front of the file.