Vac-vac is simply a method of applying (organic) preservatives into wood; after sealing in a chamber a vacuum is pulled to remove air from the timber after which the preservative is introduced into the chamber and allowed to penetrate the wood. A second vacuum is then pulled to recover excess preservative - hence vac-vac!
Redwood can be treated but the preservative will only penetrate the sapwood; the heartwood is impermeable but luckily is naturally durable. As for it being suitable the simple answer is yes but the real necessity for any preservative treatment is where timber is likely to remain wet in service; the use of preservatives in timber that are wetted intermittently is unnecessary. It is poor design (eg joinery detail that retains rather than sheds water) that has led to the belief that all exterior timber requires preservative treatment. The (portion of the) posts that are in the ground would benefit from preservative but I would opt for a CCA-alternative there.
Brian