The reason you'd use !NetReloadModule instead of !ReloadModule is so you don't have to worry about where the module is. eg, if the user selects an alternate dll in the download dialog from *NetInstallModule, !NetReloadModule will still find it. Or if the zip file has more than one dll in it, !NetReloadModule will find the right file without having to worry about whether or not it got put into its own subdirectory. Even more unlikely, if the user uses !NetUninstallModule on it or deletes the dll, !NetReloadModule will try to download it again.

You can also use !ReloadModule with the $PathToXXX$ vars, but only if you always load NLM and never use !Reload. (these vars stay set if you unload NLM, but !reload/!refresh will wipe them out)