Yes, I was disappointed with the vibrato mode on the CE-2w. I actually prefer vibrato mode on Uni-Vibe style pedals though, which sounds quite different from the VB-2(w). My favorite is Roger Mayer Voodoo Vibe, but it's too large.
I’ve owned both. Kept the CE2w and use it mainly in the “vibrato” mode. Real pitch vibrato is difficult to use in a mix IMO. The CE2w vibrato is more like a Leslie/Hammond type sound, which is what I’m after.
I don't think I've ever played a VB-2 but the Wazza is supposed to be an emulation of a CE1, which was supposed to be the circuit from the JC amps (which I am familar with) so as stated above the vibrato mode is more like a rotary emulation.