VR is advertised as mixing tool. I doubt it's meant to work in live recording.
Nothing in the user manual points to use in live recording.
Also, it's not mentioned in the manual, but one might assume a plugin like this has some kind of a lookahead function, which requires existing, recorded material.
And further, VR can also react to the level of the accompanying music, which means, IMO, there needs to be a decent mix of the project in order to get good results.