If the stationing matches then you should be able to use the Append Selected Line (accessed from the VAL Editor) in the Vertical Editor to append a VAL from HAL 1 to HAL2 as a VAL. I just tested that and it worked just fine.
If the station mismatches then you can use the Move command in the profile View to move the VAL to the correct Station and Elevation after you have appended it.
I did not really understand your "Edit" point?
If you have a VAL that is already 300' long and then you append a VAL that is 500 feet long we append it to the end of the first 300' VAL making a VAL that is 800' long, we do adjust the elevation of the end point of the part already created in the editor if the two ends do not match in elevation as we paste them together - we do not allow for vertical steps in endpoints with the same station - if you want a step then add a grade break 0.01' up station at the same elevation as the start of the VAL you are appending and you will get a vertical step at the join.
We don't support appending before an existing VAL only at the end of an existing VAL - if you need to do that then do the appending in Reverse and append VAL1 to VAL2 not VAL2 to VAL1
Alan