VRED Professional supports custom Python modules (script plugins). Use the Script Editor (Edit > Script Editor) for creating and editing scripts. Use script plugins and the Terminal (View > Terminal) to view messages and commands. For more information on Python scripts, please check the Python Documentation.
For videos on scripting, see the following:
Here's what you can expect from the Script Editor:

Ctrl+F search functionalityCtrl+G Go To Line functionalityUse either the main VRED window or Script Editor (Edit > Script Editor) to run a script.
With the Script Editor, every time you press Run, it destroys all objects created in a previous run of the Script Editor and is freed and cleaned up by Python's garbage collection.

It will NOT remove any objects not in the script that is loaded into the editor. You can create object instances through the command line in the Terminal that will not be touched when Run is pressed.
Here's a simple test:
class test(object):
def __init__(self):
print("create")
def __del__(self):
print("destroy")
t = test()
Running this in the Script Editor demonstrates that clicking Run cleans up before executing the script again.
Use the Terminal window to view errors and warnings, as well as run Python commands.
There are a couple hotkeys available for the Script Editor:
Ctrl + F Opens the Find DialogCtrl + R Opens the Replace DialogCtrl + G Go To Line function