Hey guys, here are the exact steps I took to make it work. Hope this helps. Instructions are for Win 7 and Cubase 7 64bit.
Shutdown Cubase 7
Find your missing presets in the Program files/Steinberg/Cubase 7 folder. Copy the contents of the Presets folder…
Then go to:
Users/xxxxxx/AppData/Roaming/Steinberg/Cubase 7_64/Presets
Paste presets in directory above. Done!
Restart Cubase 7… Happiness!