Hi sunnykim,
No, in fact you only need one regular instrument track, in which you insert the Event Input plug-in connected to your VE Pro 5 instance, and enable "Use for Automation" in it (don´t forget to also insert one activated, but bypassed I/O plug-in!) - this track will handle all your Parameter automation for all the instruments/FX´s you have inserted in the connected VE Pro instance.
Please make sure you have set Sample Accurate Automation to "Off" in Logics Preferences/Audio/General/ and that you have also inserted one activated, but bypassed I/O plug-in in the track, in which you have actually instantiated the VE Pro plug-in to force Logic into Live Mode for all VE Pro related tracks.
The automated Parameters (Source and Destination) can then be selected in VE Pro´s Automation Map for all instantiated instruments/FX`s of a given VE Pro instance.
Hth...
Best, Marnix