Seems to work Paul! Not sure how I would take ONE INSTANCE from a past metaframe with multiple instances, but I'm working on it. Very rarely saved 'projects' (separate instances) in VEP5.
If you're a user reading this, if you try this, it looks like it's going to replace your existing instances - goes through the 'save this project' like it's going to close the existing instances routine, but it doesn't.
Still experimenting.
VEP6 seems to be working very well with my setup - Pro Tools HD 12.5.2. Great changes, but crashes when PT is running sometimes. Haven't installed 22OCT16 build yet. My Pro Tools machine is a 2012 Mac Pro, Mtn Lion, 48 gigs RAM, SSD drives and the slave machine is early 08 Mac Pro, Yosemite, 28 gigs RAM, SSD main drive, 40 TB Drobo storage hanging off the buss!
Next up is experimenting with Yosemite on the 2012 machine. Will try on separate partition first, of course.