OK you figured this out, but just saying so without describing your solution doesn't help anybody else who might have the same question.
I don't know corel- am strictly photoshop/illustrator ( Freehand), however I assume the same issues to crop up in both... so for what it is worth.
Separating two colors in Photoshop requires that you make it a duotone, ( Monotone, tritones, etc., are also available), you name your inks in the dialog box that appears. Then saving as encapsulated post script (EPS) with appropriate boxes checked. saving as anything else drops the separated colors you established back into rgb or cmyk
You should be able to import into a vector program retaining the separated color information- you may notice the the inks are named slightly different in your swatch palatte, be careful here, every different ink name used in your illustration will generate a separate plate- even though you intend them to be the same- just rename your illustrator ink whatever ink name(s) the eps created when you imported it. ( more difficult to do it the other way around- the eps color name is embedded) Or delete the illustrator ink, and choose the photoshop ink in the dialog that comes up asking you to replace the deleted ink with -(drop down box with all remaining inks to choose from)
To keep it tidy- in your ink swatch pallate, choose all unnamed inks ( there is a selection for this, clicking on little arrow in upper right corner of swatch window) and delete all of them. This should leave you with close to only the colors you are using, maybe black and white will remain. If you see another color you don't want, see if you can find what was assigned to this color by switching it to something wildly different- so it shows up easier- or delete and replace it too. Once again, any used ink will generate a separate plate.
To test your seps, Print seps to a pdf to preview the results.. should give you the plates that will be generated before you waste materials..