Simplethings, I should point out that I know nothing and that I can only comment on what I see, read and deduce from afar. My only direct interest is as a sometime and occasional small scale donor to the restoration project, on the basis that seeing a Vulcan fly again would be 'a very cool thing'.
I imagine that the emotional investment in 'their Vulcan' at TVOC must be extremely high. I would also guess that the 'hands-on' people at TVOC are ex-RAF Vulcan technicians for whom all this is an obsessional labour of love, rather than an interesting exercise in the demonstrably safe and legal operation of a fantastically complicated one-of-a-kind retired military aeroplane capable of making a very big hole in the ground and taking a lot of people with it if it goes wrong.
I'm sure they would have given one of those same TVOC people a medal if they had creatively bodged a Vulcan together on Ascension Island so that it could successfully drop bombs on Port Stanley and help save lives/win a war, but I imagine the CAA would take a wholly negative view of them doing the same thing today for the benefit of impressing an airshow crowd; the risk-reward equation is totally different, as is the regulatory framework.
I'm tempted to suggest that people who wish to recapture their youth should buy themselves a shed and restore themselves an old British motorbike in it to ride on sunny days, rather than borrow a hangar and try to do the same thing with a Vulcan. Although perhaps without such people, nobody would have been insane enough to even try to get the thing flying again.
I suspect that in the same way as the other cottage industry preservation groups have managed, in quite amazing fashion, to keep Lightnings and the other Vulcans in ground-running and fast-taxiable condition without reams of paperwork and the CAA sniffing around them, the TVOC labour-of-love team would probably be entirely capable of safely operating 'their baby' almost without external support, if they were allowed to. But no Aviation Authority in their right mind is going to take that on trust, and if there are people in TVOC who are still chafing against the beaurocratic restrictions that the necessary oversight imposes at this stage in the project, then I'd suggest that they need to be pointed forcibly towards the Old British Motorbike in a Shed option (or even towards one of the several other ground-running Vulcan projects) and away from being involved with the CAA certified and airworthy one.