Thanks so much for this.
I can confirm this working just fine on:
MacBook Pro (begin 2011 model), OS X Lion 10.7.2
VirtualDJ for Mac 7.0.5, running this Syphon server via Video Effects
GrandVJ 1.6 running Syphon client (via Sources tab)
Please note, contrary to what the text file says that’s in the .zip with this Syphon server, I had to put the Syphon Server.bundle in: Users<user>DocumentsVirtualDJPluginsVideoEffect
(instead of in the Library)