On my Windows 10 x64 (activated w/ key) I also had to use another key to activate my W10 x64 install on Hyper-V. It was not pre activated since the host had a legitimate key activation (digital license) as I had hoped. I would think that a server OS would be the same w/ Hyper-V activation? *BTW none of your (2) posts images are visible.
Your post's make little sense... The VM's won't see a Dell bios, they will see the Hyper-V bios. If you main hardware is 2012 R2 and activated and you want a 2008 R2 guest then you could run a KMS emulator on the physical host 2012 R2 host, and point the 2008 KMS at the host machines IP.
MrG what you are saying makes sense...The Dell 2k8 DVD has a OEM key baked into it Threat - you are correct! The VM sees VirtualMicrosoft Bios In the past, i have done similar setups (host = 2012 and HyperV VM = 2008 ans NO KMS Emulator) without any activation issues. Very peculiar that I cannot even install the certificate on the physical host or at least the SLIC Toolkit doesn't see it. Manually opening the cert in SLIC toolkit loos good and seems to work (hmm)