The good news is yes, there's a new MAGIX AVC CODEC that takes advantage of modern GPUs (well, at least today) and as well, Intel's QSV instructions. The bad news is that, despite high-end AMD GPUs offering the best performance in Vegas 14 and earlier, they are not supporting AMD GPUs. No support for AMD VCE either. This suggests they coded it in CUDA rather than OpenCL. So, basically, a step backwards in technology.
Maybe they address it later. But I wouldn't hold my breath. If they had planned to support nVidia and AMD, there was absolutely no sense coding first in CUDA, since OpenCL is the universal standard. The goal should have been to move to real OpenCL without the stupid GPU-check that we've had in the Main Concept CODEC (which was, in fact, only there to force companies like Sony/MAGIX to relicense the CODEC with every new release. OpenCL is not even slightly GPU-specific... in fact, it's been run on AMD CPUs and the Intel PHI processor, among other things).
I'm skipping on upgrades until they start to make sense. Heading against the forward flow of technology is a huge fail in my book.