Here is the link on ADV for the discussion:
http://advrider.com/forums/showthread.php?t=655441
Short answer is yes, you can get a plate for it. Call the Vermont DMV for the sales tax and registration price, because they have been changed since the above thread went live, and have not been updated on the forms you download.
You can put your CA address on all the forms, you don't really need any connection to Vermont, you also do not need to do the VIN verification. Send them a check, wait a bit, if they cash it you will get a Vermont plate and registration in the mail.
After that it all depends on how lucky you can get at CA DMV. Vermont does not issue titles for lower CC bikes, I think they only do it for 400cc or above. If you nicely explain that and the DMV person is having a nice day, you may just be able to get it titled and plated. You'd then have to get a Baja Designs kit on it, and any cop worth their salt will pull you over and find a way to ticket you until CHP flags your VIN.