"Retail" just means that it's a box set code, ie City of Heroes, City of Villains, Good vs Evil, Architect Edition, etc.
As far as how long you'll stay VIP - nobody seems to be sure. You will get at least 30 days - that's what is traditionally included with boxed sets.
However, many people who should have had their time run out after the announcement on Aug 31st are still VIP, leading many to speculate that if you are VIP, you won't drop down to Premium at all.
So the answer to your second question is: Either one month from the date you applied the code, or until the end. We aren't sure.
@Roderick
Alright,
So as i remember i bought CityOfVillians 2 years ago (so stupid that i activated the key now) and as i seen in my profile, i saw that i have CityofHeroes Retail code, i bought collection box 2 years ago for like 30$ (in my country) and the question is, what does retail mean and how long will my VIP be on?
Thanks.