Is this possible? How is it done?

Also is pdVST still developed or is it abandoned?

well, the last mention of it on the pd mailing list was during 2005 at version 0.0.2. the current version reflects that number so it's pretty safe to assume that it's abandoned (if not, then severely neglected and i really don't see a distinction between the two).

And mailng the developer just bounces
Are there any similar projects out there?