Spoilers, spoilers, spoilers.
In response to quite a few comments in another thread, I thought this needed to be addressed:
The mechanics and story of VoN
A dragon has barricaded itself inside the Kundarak Vault. It is your job to remove said dragon. That's it. That's all there is to it.
The get inside the vault, you need to enlist the aid of some infiltration specialists, namely the Laughing Knives. However, four of them have some "issues" that need resolving before they can band together again, so you do the four flagging quests to resolve those issues.
Von 1 - Dirge needs a shiny axe.
Von 2 - Orphne has some mental issues.
Von 3 - Vale is being hunted by a Marut.
Von 4 - Haywire has locked himself in his foundry.
Now that the laughing knives are together again, they can do initial infiltration and get you and your party inside. But before you can remove the dragon, you need to restore power to the Vault.
Von 5 - Essentially, turn the power back on then defeat the traitor and his golem guarding the gateway to the Vault. Get past the Aurum who are helping the dragon and the unfortunate Vault workers they have turned into undead, along with the subverted maintenance drones.
1) The vault is maintained by several bound guardian spirits - one in the north, one west, and one east. They work off voice recognition. To talk to and command these spirits, you need to get Haywire's voice at the beginning of the quest.
2) Begin the process of restoring power by repairing the distribution grid (the floor tile puzzle) in the east area.
3) To restore power to the spirit guardians, you will need to reset some wheels that are behind protected barriers, and to do this you need a magic signet ring. That ring is being worn by the unfortunate Otto Knucklebones. You need to put Otto out of his misery and take the ring in the west area.
4) (The party often splits to do 2) and 3) - I think this is the major cause of confusion.) Now regroup the party for the trip north. The path north to the wheels that power the guardians is heavily trapped, and the party needs to split again to get past the two doors at the end of the trapped hallway. Once passed, the left-side party will need to reset the wheels. The person carrying the signet ring must do this as the wheels are behind magic barriers that can be bypassed only by the ring. Now the guardians can begin resetting the vaults processes.
5) The person with Haywire's voice speaks to the North guardian (this is often the same person carrying the ring, but it doesn't have to be). Two breaker levers are reset, and power in the North is restored.
6) The person with Haywire's voice speaks to the East guardian, and power in the Eastern area is restored. The production of maintainence golems is also stopped at this time.
7) The person with Haywire's voice speaks to the West guardian, and power in the Western area is restored.
8) While one person is accomplishing 6) and 7), the rest of the party is hunting down the key to the southern door. (Another major source of confusion, I think.) It happens to be encased in an adamantine capsule (a "coffer") in the western area. The party retrieves this and...
9) Drops the coffer into the disposal shaft in the eastern area where...
10) It is destroyed by a huge rust monster who fortunately cannot digest the master crystal key. The party goes to the very bottom of the vault's eastern area to retrieve the key.
11) Once the master key is in hand, the party regroups in the center to head south and confront the traitorous Arach d'Kundrak.
12) However, the direct path to Arach has been blocked, so the party must send some people ahead using air jets so they can disable traps, lower a bridge, and lower some ladders so the rest of the party can proceed.
13) Finally, disable Arach's Knight, confront Arach, force open the gate.
Von 6 - Remove a dragon from the Vault.
1) To remove the dragon from the Vault, you must first remove the barrier protecting the dragon. To do this, you must destroy the three pillars powering the barrier at the same time. Once the pillars have been destroyed, you go to the center and...
2) Remove the dragon.
Yes, it does take some time to get to know.
But I think this is one of the best-designed raids in the game.