From his transcript, here is Lockerby's translation of the first few vords:
peraetumes con ilaque
It doesn't mean anything in Latin. Neither
peraetumes nor
ilaque are Latin words. The closest thing you can get out of this is "itaque" in Latin but then all the "ell" characters would have to be changed to "t" and the rest of it still wouldn't make any sense in Latin or any other language.
If we want to play with the idea that this is Latin, I want to propose an alternate reading that not only is real Latin, but which follows Latin scribal conventions more accurately than the translations offered by Lockerby or Gibbs.
1. If we take the Latin scribal convention for "pro" or "per" (a P with a looped or straight macron), then the first glyph could be interpreted as "pro", but this wouldn't make sense in relation to the following glyphs, so perhaps the VMS is looser than convention and a glyph with or without a curled tail could be either pro or per (already one has to make compromises to read this as Latin).
Thus, the first glyph becomes "Per"
2. We read the "a" as "a".
3. The bench ligature, in Latin, has many interpretations (this is normal, the meaning is known from context). It can mean "tr" "er" "et" "cr" and just about any combination of c, t, r, or e that makes a proper word. I have many paleographic samples to substantiate this. So let's read it as "ct".
4. The "9" character, which is written both superscripted and inline with the rest of the text in medieval documents, usually stands for con- or com- at the beginning of the word, and "-us" or "-um" at the end of the word (it can have other meanings, especially when used in other languages, but these are the most common).
5. The c with a tail can be many things in Latin. It can be an embellished c, an embellished e, a c with a tail, an e with a tail (with the tail representing a script-version of a macron... a line over the letters to indicate an abbreviation). Thus this glyph can have many meanings, such as cum, -eus, eius, etc. Unfortunately, in this context, none of these readings make any sense. the only one that fits well is to interpret it as an "ess". It's a compromise, if one wants correct Latin, it was not likely to represent "ess" in medieval Latin.
6. The "9" character appears again at the beginning of a word, but to expand it as the conventional "con-" or "com-" would not make sense in Latin. But... if the spaces between words in the VMS are contrived, it can also be interpreted as an ending "9" resulting in "-us" or "-um".
7. Assuming EVA-k is a ligature, one can interpret it as "in".
So what do we get with these conventional Latin expansions, with a bit of massage and wiggling to turn it into intelligible Latin? It comes out like this:
Per actum suum in...
Which at least is readable Latin... but look how many small compromises were necessary to shoehorn this fragment into something close to proper Latin, and consider what happens when one tries to generalize this to the rest of the text.
Is there Latin in the VMS? Maybe, perhaps a few loan words, many proper names were shared among the ancient languages. Is the text
in toto Latin? Most of those who have claimed that it is have not produced anything that is grammatically correct and the majority of translations so far aren't even real Latin words.