Patrick,
I'm not sure if ever figured anything out on this, but the method I use to copy finish grade VAL to a subgrade VAL is as follows.
-Copy & Relayer the alignment
-Rename new HAL & VAL
-Open Profile view and Move VAL desired amount vertically
The main advantage to this method is when using a VAL with vertical curves, they are not lost and converted to approximations; as is the case when using the Offset command.
Seems like there should be an HAL property set for VALs. That would allow you apply/change the HAL associated with a VAL.