I wouldn’t trust Vera to run my whole heating (though I’ve toyed with the idea). Nothing bad about Vera, by the same token I wouldn’t trust my PC or Mac mini. I do trust Z-wave enough to act as a network for the components in my heating system, and let Vera set temperatures based on timers or presence.
My setup uses 3 Horstmann thermostats, in the living room, bedroom and office. These thermostats are linked by Z-wave to 3 separate boiler actuators (Horstmann / Fibaro units, essentially they are just Z-wave actuated relays) wired in parallel, so each will turn the heating on. In addition, the office thermostat is also linked to the floor heating pump. Most rooms in the house have Danfoss radiator thermostats, also controlled by Z-wave.
This setup runs autonomously and has proven to reliably keep the temperatures around the house where they need to be. Vera manages the day schedule, i.e. in the morning it sets the living room and office temps to the day setting, turns everything off when I leave or go to bed, keeps the guest room heated at night if I have guests, etc.
Vera runs a scene every 15 minutes to copy the wall thermostat settings to the right Danfoss radiator units, so I do not have to worry about those at all. During the day, the bedroom radiator valves are closed. I turn on the radiator in the hobby room by hand when I am there, but Vera shuts it off again when I turn the lights out. The Danfoss units may take an hour or more to react to a setpoint change, but they work very well if you just keep that in mind.
That’s the nice thing about letting Vera manage the settings of your heating components, it gives a lot of flexibility, and allows you to tie heating in with household patterns that Vera already tracks for you (lights, motion detectors, timers, virtual switches to indicate home/away, guests etc).
The range of Z-wave enabled heating stuff is a bit limited here in Europe though. For thermostats, Heat Miser seems to make some nice kit, though I am quite happy with the Horstmann thermostats. They look nice and minimalistic, and actually have a quality look & feel about them, unlike so much other Z-wave stuff that looks cheap and plasticy.
For TVRs, the only option seems to be Danfoss. They work ok but have some issues, such as taking ages to react to setpoint changes, and sucking batteries dry in 1-2 months (mine are all on 3v power supplies). Also it seems that Danfoss no longer sells these (some stockists might still have some); their new line of TVRs only work with their proprietary system, although there are some credible rumours that there’ll be Z-wave versions of these at some point. And with some luck they will have the kinks ironed out of them.
Security? It all depends on what you mean by that. If you mean “break into my place and the police will be there 5 minutes later” or “warn me when my elderly mother hits her panic button” kind of security that always needs to work, I wouldn’t trust anything but a dedicated alarm system. But Vera is reliable enough to keep an eye on my place when I am away, so I can monitor cameras and smoke/flood/gas detectors, and call someone of there is any trouble.