From VEGAS Pro FAQs and TROUBLESHOOTING GUIDES, item 31 provides a workaround to get Dolby AC3 Pro to work in VP14 and later.
31. How can I enable the Dolby AC-3 Pro encoder from VEGAS Pro 13 in later versions?
The Dolby AC-3 Pro encoder was removed in VEGAS Pro 14. If you have VEGAS Pro 13 and DVD Architect installed, you can enable the encoder in VEGAS Pro 14 or later using this workaround.
The link in the item goes to:
A suggestion earlier on in the post was to copy/paste the ac3plug folder and rename it ac3studioplug (to replace the existing same named folder) and the contained .dll file to ac3studioplug.dll. It worked for me up to VP16, but neither method seems to work for me with VP17 or VP18, and I've attempted this on 2 different computers without success. The result is VP crashing either on opening (17) or selecting Render As (18).
Has anyone got AC3 Pro to work in 17 or 18? And if so, are there any tricks that can be recommended.
Thanks in advance.