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It would seem as if ad purchasing wouldn't be too complex in VOD. In the same way that week to week ad rates are determined by ratings during sweep periods, I would suspect something similar could be done based upon conglomeration of data of how many households are getting the VOD of whichever program. Just as syndicated programs have ads that change with the times, so could these.
And skipping over commercials in VOD is no different than skipping over commercials of what is records on the DVR. In fact, I would suspect that if VOD replaced the DVR, skipping commercials would be less of a problem (for advertisers).
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