I have just installed a 2240 and we installed this and it was working with no issues on Vsphere 4.1. Not sure if Vsphere 5 is supported yet. Anyone?
However as you get Oncommand Host manager and OnCommand Core also included with a 2240 you can use this also however it is a little more complex as you need a dedicated server. I do have VSC and the Host package installed alongside each other and use the VSC host only for setting up correct VMWARE HBA,MPIO,NFS settings, etc. All snaps we are using the full On Command Core console to manage. OnCommand core host installs actually force you to remove VSC but I re-installed it after as I like the ease of setting host settings in Vmware quickly once a Lun is created.