The NetApp ESX Host Utilities software package includes scripts for setting guest OS timeout values for virtual machines on ESX. The host utilities also set the necessary parameters on the parent ESX server.
The NetApp AIX Host Utilities software package includes information on AIX timeout settings, but I don't see anything in there about VIOS.
Both of these packages are available at no charge. You can download Host Utilities software here: http://now.netapp.com/NOW/cgi-bin/software/. Choose either the FC Host Utilities category or the iSCSI Host Utilities category, and then select your operating system. Either the FC or iSCSI path gets you the same software; the packages have been merged.
If your NetApp storage controllers are configured to send AutoSupport messages to NetApp, you can run the Upgrade Advisor tool to get all sorts of great information about upgrading your specific configuration to a new version of Data ONTAP software. It will tell you whether you should be able to upgrade nondisruptively. You can get more information about Upgrade Advisor here: http://now.netapp.com/NOW/asuphome/
-Greg