Hi folks,
It is indeed a big deal since no plugin specification today has a general way to handle persist compatibility. Users have to run through hoops to convert projects to use a new plugin because of this. With VPC, you just load the project and everything happens behind the scenes. You can try this for yourself with any of your old projects with TH2. Simply unistall TH2 or rename the DLL, then start SONAR let it scan and then load your old project. All TH2 instances will be automatically moved to TH3 and all envelopes will auto map to the new parameters. Its pretty slick - try doing that process manually and see how long it takes :)
I will be publishing the header file the VST community soon. I just need to write up some documentation for it showing some details about the plugin and host side implementation before that. I hope other hosts and plugin vendors implement it since it makes life easier for everyone, users and vendors alike.
I have already in fact talked to Steinberg about this last year as well as several other plugin vendors and got a very positive response. Overloud is the first vendor to implement it. Keep in mind that the main reason for VPC is to allow for automatic substitution of plugins that a actually sonically compatible. e.g. TH3 can replace an older version of TH2 and yet be sonically identical. OTOH we didn't implement VPC for the new LP EQ because it is not exactly sonically compatible with the old LP-64 EQ. We may however choose to do so for the upcoming maximizer if we can map the parameters in a compatible way.
IN short if you know of other plugin vendors that might benefit from this let them know so they can consider implementing it.