As you are in 'live' mode, I assume that you are running it through a guitar amp? If so, make sure you completely turn the cab sims OFF. Setting it on L1 doesn't completely blot out the cab sim effects.
Just go SETUP (bank down & bank up) > 'C' (cabinet) and set the value to "-". You'll be surprised by the difference it makes.
It's not easy to prescribe presets when you don't make it clear what you are trying to achieve. Once you have neutered the cab sims as I've described, I suggest you set you L1 eq's flat (all @ halfway) and the same with your amp. I've run the Vamp2 through Marshalls, Fenders, MESA's and Peaveys and have found it always works best if all the amp eq's are also set at the 12 o'clock position.
I play hard rock and have found it's best to set the amp not on squeeky clean, but with a little grit in the tone, i..e master volume half, gain on half. With the amp set a little dirty, the hi gain/rectified sounds work better and it's amazing how clean the 'clean v-amp' amp sim comes through (even with a gritty amp).
By this stage, fiddling around and getting good quality tones is not that difficult. Say you are looking at Satch's tone, google his gear set up and try to emulate it in the Vamp2. For
Peavey JSX's, start with 'modern hi gain' and so on.
Also, you'd be well advised to download the 'V-AMP EDIT' program from the Behringer website. Hook your Vamp2 up to your computers sound card through 2 x midi cables (using only 1 midi cable won't work) and editing/creating good sounds will be childs play.
Good luck
