So I've been enjoying a home demo of the VE5. Firstly, I have to say that I am always impressed by the quality of Vision Ears' demo units. I always get a good fit and feel you get a very good idea of the sound from them. Of course, there will be some differences compared to the actual custom.
I more or less agree with Ultrainferno's very good review. The way vocals are presented with the VE5 really is something quite special. I've heard other IEMs that are supposed to be for "vocal lovers" and some of them think this means presenting them in an in your face way. Yes, vocals are forward with the VE5, but in a way that lets you appreciate them. For example, I was listening to Alicia Key's As I Am album and noticed backing vocals and harmonies that were glossed over with other IEMs, even TOTL ones.
Clarity is also really good with the VE5. There is nothing artificial about it and although the VE5 is slightly bright, I can't imagine it being too fatiguing. But I am biased towards bright earphones. For those worried about sibilance with the VE5, I don't think there is anything to worry about. I didn't hear any and I think the treble is smooth and well extended.
Although I really like the VE5, I would be hesitant to recommend it to anyone looking for a good all-rounder. While I wouldn't say they were bass-lite, I did notice a lack of bass when listening to some rock and hip-hop. I always resist the urge to use EQ when testing an IEM, but I really wanted to use the bass boost with the VE5. I do have to say though I prefer the bass on the VE5 compared to the VE6 X1, which I found could sound a tad bloated on some tracks.
So in summary, if you are looking for a CIEM for vocal focused music, I would say check it out. If you are looking for an all purposes CIEM, I would say definitely try before you buy. Vision Ears should be happy to lend out a demo unit provided you pay a security deposit.