This has been happening to me. I have submitted this to Customer Service - they suggested I do a complete uninstall/reinstall of 7.01, which I had already done with no improvement.
V-V crashes SONAR when I try to make a V-V clip on a track, mono or stereo, assigned to a surround bus - assign it to a hardware output or stereo bus, and the problem goes away.
V-V gives an error saying "DirectShow Error (0x8004022A) This filter does not support the current audio format. It may require a different number of channels (e.g., stereo instead of mono) or a different sample rate."Switching the interleave on the track fixes this. I also had a bypassed external input in this track's FX bin - removing this allowed V-V to create a V-V clip.
I haven't rolled-back to 7.00, so I don't know if this was introduced with 7.01. I'm not quite sure when this started - I haven't used V-V for a while.