The steam version of Vegas 14 was mostly ignored and sometimes only got updated months later, same thing seem to be happening to the Vegas 15 steam version, 216 has been out for over two weeks without any updates to steam. I Really wish more love and care can be put into everyone who purchased this software.
Manually downloading and updating to 216 don't work, the setup/patch simply say you can't do that to the steam version. However!
Managed to update the steam build 178 to 216 by doing following.
Install the steam version, run it once and then uninstall the steam version. This gave me the directories needed.
Then download the Vegas Pro 15 edit trail, register and install it. Run it once and then copy the entire directory to your previous steam vegas directoy.
Install the steam version again.
Now you will probably run into register issues, jump into regedit and delete the following folders. " also make backups if you worry".
>HKEY_LOCAL_MACHINE>SOFTWARE>WOW6432NODE>Sony Creative Software
you might also need to delete.
>HKEY_LOCAL_MACHINE>SOFTWARE>Sony Creative Software
Now start the steam version and you will not get any 59 / register errors, didn't get any -2 errors either.
Set steam to update only when launched so you are in more control. Vegas 14 steam got older updates then retails sometimes, so keep a eye open on build versions.
Hope this help steam buyers.