The Available Applications list of the VAM displays all the applications that have been added to this list. That definition might seem trite, but it contains an important nugget of information: Applications may exist on your workstation, or be available through your network, but until you use the Add New button to add them to this list, you can not run them. Conversely, you can remove applications from this list without erasing anything from the application directory.
Note that the VTS software comes with a variety of applications that are used for debugging and analysis. Some of these will be displayed in the list of available applications by default and others will need to be added before they can be run.