Lyle sent me some info/pics on this bike too, which I've previously posted on here. I'll have to check my info but I'm sure he said he built about 4 VR360's. Of course he could have been stretching the truth (which wasn't unheard of!)
Did Ed Lancaster ride one too?
He also built some 360 63Ms too but he said they weren't so successful. I know Ed rode 1 of those. Just as an aside, how many remember Ed won an Oz title on the humble 4sp 125 Mont in 72 or 73
Getting back to the original question about the VR engine, I'm no Montesa engine building guru, but the VR/V75 sleeve is quite thick - OD is 80.5mm w 70mm bore. I'd have tho't that could be safely bored to take a 75mm piston, perhaps even 76mm, if you could find one w a 16mm gudgeon to suit the rod.
Perhaps try watercraft pistons. Kaw often used 16mm gudgeons.
That would give about 280 - 290cc. But I have no idea if the stock rod/big-end could handle it reliably.
It would take some boring tho. The liner is very hard. Lyle once told me the Rockwell hardness but I've long since forgotten it.