Whether or not to switch over is your call. If I had an early model VRO (they came out in the mid-80's), I'd probably do it. Late models are going to be bullet proof - there are safety systems that work & most likely will save the engine.
It's pretty easy to switch over; I'm not going to get into that because I'm not confident enough to advise someone else on it. Try:
www.marineengine.com/discus
Post a question on the outboard forum - I've seen it come up a zillion times, you could probably even find specific instructions by looking at the old posts in "tree view"..
As far as adding oil to the gas; I've gotta disagree with quiknet. 50:1 is what is required for very minimal wear under all conditions. Some engines actually run at 100:1, the VRO's change ratio's depending on specific conditions.. My guess is they don't go any richer than 50:1 and probably go much leaner. So, in theory, if the VRO did crap out and you had 100:1, or even less, in the tank, it would minimize the damage. Also, unless you pay top $$ for manufacturers brands, oil really isn't expensive. I pay $10 a gallon for penzoil synthetic mix.
The downside is you will be building more carbon than neccesary & will change the way the engine runs somewhat.. How much depends on how much oil you add.. Just about any 2-stroke outboard will run fine at 25:1, probably even 16:1, but most aren't designed to run for hundreds of hours, with that much oil. It may actually do more harm than good.
So, my recomendation is to either just trust what you've got, or change over to mix.
Jon