NO, NO, NO!!!
It's not even close to VTEC. BMW's VANOS changes the cam timing (rotates the cam to advance or retard timing). Vtech used totally different cam lobes at a specific RPM (oil pressure changes it - not the ECU like BMW). The brand new 1.7L Honda motors in the new 2002 cars have VTEC-i. The "i" is similar to VANOS were it adjusts the cam timing.