The next step should be to jump straight to the Advanced menu, and check your connection settings are correct. If you don’t have any contacts on the VZO network, you won’t be able to call anyone other than "mobileteam", a video account setup by the developers for testing.
VZOMobile Video Chat is a solid network that is however heavily weighted by Russian Federation and Peoples Republic of China users – as such English language users might not find that much of interest in engaging in chat with strangers. However as mentioned earlier VZO does seem to be a solid network so there is no reason why it cannot be adopted both on a social level and possibly even for remote collaboration and other remote working purposes.
Although a decent enough piece of software, it lacks any other purpose. Perhaps enhancing with access to text chat networks such as MSN or Yahoo would make this more of a must-have application for standard users.
VZOMobile should only be used across WiFi, 3G or WiMax connections, and only then if your provider allows a generous dataplan.