Right you are.
Another issue I am having is the C4D file that is created by the "Send to C4D.." command in VW2011 is in an invisible folder (/private/var/folder/MZ/) with a senseless (to me) file name (i.e. TMP_VECTORWORKS_FILE.PbC9xr.c4d).
Not that big a deal, except the 'tex' folder, (and a backup folder/file, as I have auto backup set up in C4D) are also created in the hidden folder. So, when I do "save as.." from within C4D and rename/relocate the exported file, the exported .jpg's used in the textures are lost, and I get render errors. I then have to manually locate the 'tex' folder and move it. That is sort of a pain, but also the hidden 'tex' folder, and backup folder will get huge over time, unless you remember to manually delete them from the hidden folder.
Not sure if it functions differently on C4D R12?