I managed to do this. Here's how
1. Created an instant VM and hosted it on another Hyper-V host (2012 R2)
2. Brought the VM up (without network because the source is still active) made sure all was well, then shut it down.
3. Found the source files of the instant VM and copied them to another location
4. Deleted the instant VM in arcserve (this deletes it in Hyper-v as well)
5. Imported the VM back into Hyper-V from the files that I copied. (rename and move folders before importing)
6. Deleted the snapshot subtree
7. Started the VM and all is well
8. Will take another backup of the active VM, shut it down, then bring up my doppleganger on the network and do a restore from backup to make it current.
Hope that helps anybody who needs to do this....