As far as I can see, the V-smile can theoretically run on lr-mess, but as of Mame 0.189 (on PC, mind you) input doesn't work and 99% of the games crash before they even get past the bootup animation. On top of that sound isn't emulated, graphical glitches are common, and the boot animation is noticably slow. You can see my one successful game bootup here.
I don't think there's any other emulator for the V.Smile yet, so unfortunately you're just going to have to wait until someone comes along to improve emulation on MESS/MAME.