Not sure how much use it would be for pattern practice. I haven't tried Vplane, requires VControl radio and I'm a JR guy, but all of my helicopters have Vbar, and I love them.
From the videos, the plane does EXACTLY what you ask. Knife edge? Roll it to 90 degrees and let go. Knife edge loop? Apply rudder.
Fun for the Sunday flier, great for party tricks, but for a precision pilot that wants to improve their skills? Useless.
Tom M