I'm starting to dive into my newly received Armory myself, and Andrea did well explaining INTERLOCK (as it's new to me as well).
However, I can chime in on Qubes OS' Split GPG functionality as I have been using it for some time (as well as the Split SSH sister project that uses the same PGP keys).
For starters, Qubes OS treats all USB devices as untrusted devices and (now as default in 4.0) creates an isolated USB VM that is air-gapped, away from the rest of the system, to capture all USB devices. That is, unless you are using a system with a USB KB and Mouse, like my 2014 Macbook Pro - then USB isolation is disabled, because you need USB in the Domain0 control domain.
Next, the Split GPG function is meant to be used from an air-gapped VM, such as your Vault VM by installing (or generating) your private keys there. I have one Vault VM for personal, and additional Vault VMs per client I work with. That way, if one ever gets compromised - it's only that one client. This air-gapped isolated Vault VM does not get USB devices either.
Now, in theory... If you bypass the USB isolation and allow USBs to be attached to VMs... And, if you allow attaching USB devices to your isolated and air-gapped Vault VM... Then you could use the Armory knowing that you are already bypassing a couple isolation barriers to begin with that are there to protect you.
Now, how would one use the Armory with this setup, connected as a USB device on the Vault VM? The Split GPG functionality is a set of compiled C++ binaries that wrap the PGP library within the Vault VMs.
By default, it uses a normal gpg installation. That is to say, ~/.gnupg/. The Split SSH add-on also uses the same PGP configuration to generate RSA pubkeys.
I have not dug into the Armory configuration yet for PGP; however, if there is a way to "hook" into the gpg authorization - which would normally reach out to the USB device of the Armory - I don't see why it wouldn't work from within the Vault VM you have your PGP keys in.
However, I consider this very risky when it comes to Qubes. You already have isolated your PGP keys into an air-gapped Vault VM - why risk attaching a compromised USB device? E.g. what if you accidentally selected the wrong USB device, one that had malicious firmware on it, when attaching to the Vault VM? Game over.
Anyhow... That's what I am struggling with myself. How to use the Armory with my Qubes OS. I've only come up with a simple approach so far:
* Arch Linux on Armory in Host-Only mode, Full Disk Encryption with a > 70 character password
* Armory stores my root PGP private key
* In Host-Only mode, I issue pgp "sub" keys from the Armory and store them on a temp USB stick
* Connect the USB stick to the USB VM in Qubes
* Copy the sub-keys across USB VM to Vault VM
The Vault VM, and the entire machine, would only have Subkeys on it - not my root private key. The armory stored in a vault, with a backup of the sdcard.
The weakest part in this chain is that temp USB stick I connect to the Armory. If it is compromised, it could infect my unlocked Arch install of the Armory itself.
The only other alternative is to leave the Armory operating in USB mode - and connect it to the USB VM like normal, where I can issue sub-keys directly from the device. The weakest part in this chain is any one of those USB devices could be compromised and log the keystrokes to unlock my > 70 character FDE passphrase. I consider this a larger threat than the first Host-Only option.
To recap... You could use the Armory directly within the Vault VM of Qubes, but do you really want to risk it? Instead, maybe use the Armory to story your private key offline in an air-gapped device and issue sub-keys from it that you use across your devices (phones, Qubes, etc).