Ok well the runtime (which is what they distribute in repos) includes no compilers at all (at least officially at the moment).

But compilers are managed code... meaning the work the same on x86/Macs/or even ARM linux devices... they just need relevant system runtime and libraries. So i pretty much grabbed the c# (mcs and gmcs) compilers (.exe's) from an actual mono x86 installation or devkit. Additionally there are msbuild libraries and webserver libraries (System.Web)... all waiting to be enabled on arm maemo I could use help though... but with 1.9 this looks like alot of potential.

So i'd guess you could use mono's Vbnc.exe compiler to compile against the 2.0 framework (no vb support for 1.0) but you probably wouldnt have visual basic specific namespaces (libraries). I'll test it out later but you probably grab out of a real mono installation.

Libararies are probably managed code though so once i figure out (or stumble onto) proper way to install them to gac, then probably any existing mono library including mono vb specific libraries can be added. So (I think) even old assemblies you may have built years ago on windows could be copied an run on maemo if they themselves use only namespaces which are in repo or hacked onto device.