A copy of the vm-server.toml file doesn't get placed into the config folder. This makes it difficult to manage for modpack authors. If a copy of that file is present in the config folder, it doesn't seem to get used anyway.

Server configs don't go in config folder. I'm currently not sure if this is the correct type of config for what I intend, due to the current state of configs, but it seems to work at this time.
For modpack authors, you should be placing this file in defaultconfigs folder, so it places it in every world created.

Perhaps it should be a -common config file instead of a -server config file?

It could be possible. There seems to be no description on the behavior the different types of config files. The settings are intended for server side, so that was what I choose. When I get a chance I'll look into common.

I read some about this and it seem that common will probably work.

The latest version is now in the config folder as a common config.