Originally Posted by
perthite
17.14 pretty much rules out earning on such codeshare flights (while leaving the door open to some possibilities):
17.14 Points and Status Credits (where relevant) may only be earned for eligible travel on regular scheduled flights with Other Airline Partners and actually operated by these airlines (that is Points may not be earned or may be earned at different rates on code-share flights).
That seems to answer my original question as well. On a VS codeshare operated by SQ (at some future point when SQ is a full partner) I could earn VS mileage, SQ mileage or none - at the whim of Velocity.