After thinking through it for a while, I have decided to stop developing the tool further. I had the plans of dismantling the tool as individual scripts so that you can use them in your scripting framework. I have looked at the existing code and it was not written in a very modular way. Only parts of it can be easily broken down. I feel that it is not worth the time I will have to spend. I have validated every piece of this script on Hyper-V v2 beta and Windows Server 2008 R2 beta. It works fine on the new OS too. I learned a lot of Hyper-V WMI related concepts while writing this tool and it was really helpful in understanding various architectural stuff.
I will, now, concentrate more on PowerShell and C# related development and stop doing any VBScript work.