If you're an electronic engineer, I'm sure it's possible. I know there's a few people designing one. For me, it's a bit over my head, although I keep getting pushed to look at Arduino boards and doing it that way.
Yeah the VV designs look straight forward after seeing a few online. I cant seem to find anything at all about VW which is making me think the circuitry isnt "varying the wattage" and is varying something else which changes the watts.
I know that power (w) = V2/R
So varying the voltage or resistance would cause the power to change... i.e using a variable resistor, Thats as far as I have got.... I've not had a look at arduinos yet but they look interesting...