I used a manhole cover and placed it on the road just outside of Vault 101. I used F to drop it down to be level with the road.
It sounds like you did it well enough.
When you stand where it should be and point downward, do you see any "activate" option?
if not, maybe somehow your .esp isn't loaded or the contents didnt save. hmm.
If so, the door is actually a bit under the visible ground and you need to lift it upward a bit with the geck (hold down Z and drag the door, itll go straight up).