As Redvee says, if by 'transfer' you mean fly on VS and earn on CO, then yes, but if you mean transfer from Flying Club to CO then no. Nowhere in that link does it say you can.

AFAIK you cannot transfer FC miles to any other airline FF scheme, you can redeem them on other airlines, and you can transfer to some hotel loyalty programmes (like Hilton), but those exchanges are very poor value.

When UA and CO merge fully, I expect you won't be able to earn on VS anymore ... unless VS joins *A.