Nice finding! I some times experienced that with many morphs all altering the same body area, but this was without morphs!
Loading some of my glorious look creations from the week before, I am often terrified how bad they are after looking at them after some days. Most probably it is because of myself and changing the perspective, but secretly I am suspecting VaM to have some very diffuse issues with saving/loading morphs for a long time.
Though, maybe it is just a small programming error in the plugin and I just need to take off my tinfoil hat. ?
Maybe you could try the same test wit switching off body collision, soft body and advanced body physics before using the plugin... maybe there is one of the collision objects going nuts.