I believe the one feature that it has that would work for your needs would be it's drawing history.
It will be able to recall a drawing from a specific revision and all files associated will be of that same time.
So your references and other things will be accurate as well.
Now, if you find the feauture important enough to implement that is another story.
It is much like a file management system, similar to Projectwise if you know anything about Projectwise.
As of Last years AU, Vault could not handle most of the new features in Base AutoCad such as sheet sets and the other kewl linking abilities now being offered in AutoCad.
Pieter