Yes hope creep is different from scope creep. In short, hope creep is lying about the status of the project/task until you're caught.
For project managers, hope creep happens when the project manager starts lying about the status of the project (which is behind schedule and over-budget) to the stakeholders and the client, while hoping that he will be able to get the project on track before anyone discovers the truth. Since hope creep involves lying to important people either inside or outside the company, the project manager will always be in panic mode because he knows that he'll most likely be fired when the truth comes out, and it usually does.
Similarly to scope creep, nothing good comes out from hope creep. In fact, it is nearly impossible for the project manager to get the project on track (schedule and budget wise) once he starts lying.
Hope creep involves sending misleading status reports about the project showing that the project is on time, on budget, and on schedule.
Some project managers usually blame ignorance on hope creep, saying, for example, that they weren't aware that a certain requirement existed.
Hope creep is even more practiced by the project team members, when one reports that he's on time with his tasks, while in reality, he's way behind. The project team member "hopes" that he will make up for the backlog by working overtime (at night or during weekends). Hope creep is very common in project teams, and the project manager need to be aware of it by constantly checking the "real" production of each and every team member on the project.