Just wanted to mention that sometime in all of the recent platform changes the terminology changed as well: what used to be listed as virtual switches are now called “simulated” in the ID. Everything else is the same, though.
One additional issues since this FAQ was originally written is that SmartThings now has multiple database servers. If your device list is blank when you follow the link in the step by step instructions above, see post 46 below in this thread.
Also, @BBoy486 has a topic where community members can answer the second question in the original post in this thread: why would you use a virtual device in the first place? 