I got the following answer from the VLingo folks (much is the same as what you posted, alovell)
Hello
Thank you for contacting Vlingo Customer Support.
Currently, Vlingo does not support the feature you've mentioned. (my emphasis) We are constantly adding new features and devices to our product line. We consider many factors when deciding what products, languages, and features to build. One of the factors we consider is requests from our customers. We've made a note of your request, and this will be reviewed by our product team.
We regret that we are unable to provide specific details of our upcoming product plans until the products are announced or released.
Vlingo does support speaking common punctuation characters such as the following: . ? ! , ; : * - + = Just say 'question mark', 'period', and so on.
Vlingo does not yet support speaking new line (carriage return) characters or creating new paragraphs. For now, you'll need to insert those manually via your keyboard.
Vlingo also automatically capitalizes the first word of each sentence, and proper nouns that it knows about. If you find specific instances where it's not capitalizing something that it should, let us know and we'll forward it on to the engineering team. As improvements are made, you'll see the benefit automatically, without having to download a new version of Vlingo.
Note that Vlingo only capitalizes in messaging fields that are intended to be sent to other people, for example text messaging and email. It doesn't capitalize contact name fields, Note2Self, etc.
Thanks again and best regards,
John
Vlingo Support