May I point your attention to this thread at KVR: http://www.kvraudio.com/forum/viewtopic.php?t=334828&postdays=0&postorder=asc&start=75
I made a little instrument that uses the waveterm but running out of time. So if someone want to make something out of it or parts of it: http://www.eskahome.at/Pomklex.zip
Install: Put the Audio-Term folder in your VST folder and my VST in the Audio-Term folder. Strip the version number from Audio-Term.exe.
You can then call Audio-Term from within the VST and load wavetables from the wave folder.