Apparently after working on the problem for several hours, I have discovered that the TC electronics Reverb plugin does not work in Vegas 9. It works in Vegas 6 with no issue. This leads me to believe there was in issue sometime between 6 and 9 that broke the plug-in architecture.
Please resolve the issue with the software as quickly as possible so this plug in works.
I am going to start a list of Plugins that Cause issues with Vegas During Render time. Please feel free to add your plugin, and put the plugin title or MFG in the subject. Groups of plugins can be listed in the body for example "Waves plugins Have issues" and list each one that does.
This way Sony can resolve the problem by having a test list to check that all of the issues are resolved with the bug fix.