The .NET team has released a snippet editor for Visual Basic 2005. You can download the editor by visiting http://msdn.microsoft.com/vbasic/downloads/2005/tools/snippeteditor/.
The Visual Basic Snippet Editor is a Windows Forms application with UI for creating, editing, testing VB code snippets. You can specify snippet code and metadata (e.g., title, author, description, keyboard shortcut), replacement variables, and referenced assemblies. You can preview your snippet as it will appear when inserted into the code window, and you can even test whether it will compile.