I am not sure about fire, but for arcane the usual cast time for my char with optimized gear (14xx haste, couldn't get any lower) is about 1.3s for AB, which puts 2AB very close to the optimal time for VPLC to proc (2.5s ICD). Maybe this is more efficient than for fire.
Edit: I did some quick SimC runs with my char in arcane and fire spec using nonheroic VPLC.
arcane:
VPLC: dps:1296, count:18.8, interval:23.42s, dpe:31281
fire (only respec, no gear change):
VPLC: dps:1177, count:21.1, interval:20.85s, dpe:25221
Although it procs more often, it does less dps, this is mainly due to the lower dpe.
I also simmed a well-known fire mage from our server, Shieki, who has about 7.5% more crit (same iLvl as me and mainly the same pieces, but different reforges of course)
fire:
VPLC: dps:1323, count:22.7, interval:19.42s, dpe:26347
It procs more often due to the higher crit chance (pretty obvious) and thus does more dps.
It remains why it does more dps per charge for the arcane spec. I read on mmo-champion (
link) that it scales with mana adept. I have about 20 Mastery, i.e. 30% more damage at full mana. 31281/25221= 1.24 = 1+(0.3*0.8). An average of 80% mana is a little bit higher than what SimC is showing, but in the right order of magnitude.
To conclude, one of the reasons VPLC is THAT good for arcane is that its damage is modified by mana adept. Fire can compensate by having a higher crit chance (also increasing the chance of lightning bolt crits) and dots, which may trigger charges as well.