one trick would be to rebuild the physical environment of the installation within vvvv (in virtual space).
so, in the easiest setup you would have a projection screen in a room. to remodell that in vvvv you could use a textured quad, where the quad already shows the entire scene (rendered into a dx9texture).
now the next task is only to have a view onto the environment. and for that just use the projector module which comes with vvvv. transform the projector with a combination of a translate and a rotate and you will have a look onto the virtual scene in the same way like the real projector looks onto the physical scene.
in that way you should also be able to rebuild more complex setups and undistort them automatically by just rebuilding the whole scene …
it is cool to use map meters to virtual units, so that you can easily match both worlds.
also have a look on the grideditor module which enables you to rebuild rounded projection screens …
wait for the release, and open the help patch of the new node Homography, should be exactly what you need. but limited for rectangular projection areas (whole screen space).