We present results from a 2-epoch HST H$alpha$ emission line survey of the Andromeda Galaxy that overlaps the footprint of the Panchromatic Hubble Andromeda Treasury (PHAT) survey. We find 552 (542) classical Be stars and 8429 (8556) normal B-type stars in epoch # 1 (epoch # 2), yielding an overall fractional Be content of 6.15% $pm$0.26% (5.96% $pm$0.25%). The fractional Be content decreased with spectral sub-type from $sim$23.6% $pm$2.0% ($sim$23.9% $pm$2.0%) for B0-type stars to $sim$3.1% $pm$0.34% ($sim$3.4% $pm$0.35%) for B8-type stars in epoch # 1 (epoch # 2). We observe a clear population of cluster Be stars at early fractional main sequence lifetimes, indicating that a subset of Be stars emerge onto the ZAMS as rapid rotators. Be stars are 2.8x rarer in M31 for the earliest sub-types compared to the SMC, confirming that the fractional Be content decreases in significantly more metal rich environments (like the Milky Way and M31). However, M31 does not follow a clear trend of Be fraction decreasing with metallicity compared to the Milky Way, which may reflect that the Be phenomenon is enhanced with evolutionary age. The rate of disk-loss or disk-regeneration episodes we observe, 22% $pm$ 2% yr$^{-1}$, is similar to that observed for seven other Galactic clusters reported in the literature, assuming these latter transient fractions scale by a linear rate. The similar number of disk-loss events (57) as disk-renewal events (43) was unexpected since disk dissipation time-scales can be $sim$2x the typical time-scales for disk build-up phases.
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