Go for it and let us know how it goes! I'm definitely curious how you go about using the new disabling features of both VEP7 and LPX 10.4.5 and how you might go about automating it between the two.
I think VEP AU3 is working very well for me. I made a 1270 track template on another thread, that might help you get it setup and working.
My preferred method at the moment is to build a large template in VEP, perhaps using disabled channels or instances or folders.. then in LPX just build up projetcs one track at a time and simply specify which instance/port/channel to use for each track, which will connect to an already existing channel in VEP, that may or may not need to be enabled. I have 128gb of ram, so I simply have not run into a need to do that, but I don't have a huge template yet either.