I am having the same problem and have found issues in 2011, 2012, 2013 and now 2014. My current issue involves a point file generated in GIS from an elevation raster, the points are in NAD83 and locate correctly in GIS. When imported to VW they are in completely the wrong place and instead of measuring 2,175ft from east to west (as it does in GIS) it measures 0.1ft in VW! I have tried different settings in the georeferencing options such as leaving the default WKT projection or setting it to the State Plane for the area, all with no luck. The strange thing is that it seems to be random, with some survey files importing correctly(exported as dxf/dwg from the diff GPS) but files generated in GIS not.
I am going to send the files to VSS for inspection as we kept getting the problems and always at a project critcial time which is most annoying. If I reach a solution I will post it up, hopefully we can reach a solution as it has always been a pain working in anything other than BNG, which is ok if your working in the UK.