Uhmm, don't think Dr.Sin will include VSS with VUC++. Just VSS integration, which means you can checkout files from within VUC++. But I guess Dr.Sin will give us an update on what it exactly is when he visits the board again.
About the virtual folders. They are already available in VUC++. Everything you see in the projecttree are virtual folders. See attached picture. All files can be moved between the different folders and the folders are just for organisation. Just use the right-mouse-button menu for creating and deleting folders.