I have been missing Vector Paint (like a lot of people) since it's removal a few years ago. I have read a lot of discussion where reviewers, etc. expected it to finally return in CS6 (with added features), but I can't find confirmation anywhere that it did indeed return. I'm still using 5.5, and this would be a major motivator to upgrade. If it has not, did they replace it with something different?
In a recent response to another thread on Vector Paint, Todd Kopriva stated:
Our current plan--subject to change depending on many factors, of course--is to do substantial work on the paint features for After Effects releases targeted at 2014, with specific work being done to add functionality similar to that in Vector Paint (onion skinning, painting in the Composition panel, wiggly strokes). So, though we can't make promises about future features, this is a high priority for us for the near future.
One thing that I think is great about the CC way of doing things is that the development team can now focus on producing features and effects that we actually want (in order to keep us happy, productive, and subscribed) rather than bang-whizz things (that aren't neccesarily useful) to try to get us to upgrade to the latest version.