So here's what I ended up with - cut the cup to provide plenty of room for roots but the rockwool cube is still held securely and can't slip out:
IMG_2853 (Small).JPG
Used the neoprene collar to cover up the top:
IMG_2855 (Small).JPG
And this is what it looks like on the box (this is a larger tote but same principal):
IMG_2852 (Small).JPG
I've done the same thing with smaller rockwool cubes but just cut less from the bottom of the net cup to ensure they don't slip down.