vRAM licensing was dropped when vSphere 5.1 was released. This is from the licensing document for 5.1 -
Q: Does the new VMware vSphere 5 licensing model – per-CPU
without limitation on the number of VMs, cores or amount
of physical RAM – apply to both vSphere 5.0 and vSphere 5.1?A: Yes. The VMware vSphere 5 licensing model applies to both
vSphere 5.0 and 5.1 customers.