From Velvetmatter's web page (http://www.velvetmatter.com/ ):
"Sony Creative Software has recently purchased some of Velvetmatter's underlying video FX technology. At this time, Velvetmatter has chosen to discontinue sales of the Radiance suite of software plug-ins for Sony Vegas Pro.
Activation server and legacy downloads will remain available for existing customers. Velvetmatter is committed to your complete satisfaction. Existing Radiance owners should continue to direct support inquiries to support@velvetmatter.com."
Maybe Sony plans to release some interesting new effects / features in the upcoming Vegas Pro 9? At least this should indicate that Vegas is not "dead".
Jøran Toresen