I was just on the phone to the VA Plat Desk and the CSA shared that there is an email going out tomorrow to all Velocity members advising them that their accounts will be locked between 10pm Saturday 1st June and ~4am Sunday 2nd June, whilst they undergo a large Velocity software upgrade - she believes that this may fix some of the bugs/issues we are having. Also, she advised that Virgin is having a lot of trouble with Hotmail/Gmail/Yahoo accounts, so check your Spam folders for the email.
So when you're all having your Sunday morning latte, fire up your Velocity account and see if it works. I have my fingers crossed. I will cross post this to other (similar) threads to spread the word.