I use TS2000 with esignals new Active X downloader and my OS is Windows 2000 Pro. I do not download T & S however, and have not had any problems with normal data downloads.
If it's ActiveX you should be able to use it in VB without problem. It may work OK in Excel, but high volume realtime T&S might encounter too much overhead.
Not sure what you mean by a realtime volume study. Do you mean a price profile/price @ volume study?