VIP2 and VIPOW are star files for certificates that folks earn for making EXP.
VIP2's were earned in 2000 (and before) and were magical confirmable upgrades on a round-trip with very few capacity controls. EXP's got 4 VIP2's when they qualified for EXP.
In the EXP packets for 2001 (mailed in Februrary), the VIP2's were replaced with VIPOW's or VIP One-way certificates. Instead of 4 VIP2's, we received 8 VIPOW's. Sounds fair, right?
Unfortunately, the VIPOW's have a more restrictive inventory, especially heading overseas. Many EXP veterans see the VIPOW's as depreciating the value of EXP, and it is hard to argue against this.
You may also get VIPOW's by crossing a points threshold in your AAdvantage AAccount (1MM? 2MM?), but I do not know the rules on this one.
I believe you can convert a VIPOW into upgrade certificates (or miles?) with the right amount of smiling over the phone at the EXP desk.