Hi,
I think you're (slightly) mixing up two things.
SRM testing is designed in this way that it does not touch SnapMirror relationship at all - hence the need for FlexClone licnense to create writeable clones off target SnapMirror volumes, spinning off "dummy" VMs, etc. All that a) does not impact your primary site, b) does not break / quiesce remote replication whilst testing.
Whether you can accomplish this without FlexClone license is a subject to discussion. Almost certainly depending on the size of your environment & extensiveness of testing you can do something, but surely it will be far more complex than just pressing a test button within SRM GUI (e.g. you may think about doing LUN clonning or simply doing a full copy of some VMs for testing, etc.)
What you can always do with or without FlexClone is an actual SRM fail-over - this will break SnapMirror, shut down your primary VMs and bring up DR replicas in a full read-write mode. This however is in my opinion "THE fail-over" vs. "fail-over testing" & implications in a production environment are quite substantial (some downtime, no protection whilst testing, all clients need to have access to the DR site to work & manual fail-back). [edit: the last bit is not strictly true as I just found out - TR-3671 describes the steps to do a "reverse fail-over" by reversing SnapMirror & SRM relationships]
Regards,
Radek