Yup, all possible. vBA products use whatever vB Style you have selected for your site. You may have to re-run the template update if you install the templates first then a vBA product, but this is easy enough to do should you need to.
You need to run the vBA application install.php files again where you will see an option to simply "update for the installed templates" or something similar to that.
No need to reinatall the entire apps, there is an option as I say to simply upgrade for the templates.
The templates are installed into the master set, so there's no reason to reinstall them when adding a new style. The only thing you should really be aware of when adding a new style is to be sure to enter the full URL for each image path when adding it, otherwise your images will be broken.