yeah, we've had this discussion before, and no, it won't work on Virtual PC.
Write to Apple Support and ask them to make a Mac version of a program like this or add these feature to FCP.
http://www.apple.com/feedback/finalcutpro.html
You'd be surprised by how seriously this feedback is taken by Apple. You know the multi-cam support they added to FCP5? It came directly from user feedback.