It shouldn't matter, but one thing I'd do is make sure to load $00F1 with $00 so decimal mode is cleared when the program starts. (The program clears decimal mode a few instructions in, but strange things happen sometimes.)
A couple of quick things to check. I'd zero out $0FB0 (and two or three more bytes) and also put a $FF in $00CC and $00CD. Then I'd load the program.
When you go back to $0FB0 after loading VTL, you should see an $A9 (LDA) stored there. If you don't then something isn't loading right.
If you see $A9, then I'd use the G command like you have been. Once it locks up, reset and look at what is stored at $00CC. If it is still the $FF (instead of having been changed to $00) then that would mean the initialization routine (which is what you are supposed to be starting when you Go at $0FB0) isn't running.
All of that should tell you if things are even getting started. You can jump straight to the intro message routine also. It looks like that is at $13CB in this version of things. If you point the monitor at $13CB you should see a $A2. If you Go there, it should print the '6502 VTL-02C for the PAL-1' message and then jump back to the monitor (I think, it might hang after the message).
Hopefully as you work through some of that, you'll get some clues as to where things are going wrong.
Thanks,
Jim W4JBM