I'm not sure I'd describe it as an "embarrassing restriction". VE Pro is designed to be an instrument host, so there is no need to have audio going in both directions. Although it would be useful to have VE Pro work like a cross-platform FX teleport it's not really what it's been created to do. Who knows though - maybe they are planning this for future versions...
Incidentally is there any more information on when we can expect it to be released? I know these things are flexible and a lot of problems can occur at the last minute but I was just wondering how it's progressing.
Martin