LOL, you had to ask about two of the more complicated systems 240sx's have. It's cool though. Well, for starters, VLSD and HICAS are two completely different things.
VLSD = Viscous Limited Slip Differential. I'm going to assume you know what an LSD is, but just in case, it's a type of differential. It mediates torque distribution between the rear axles using the variable viscosity of oil.
http://auto.howstuffworks.com/differential.htm
HICAS = Nissan's proprietary four-wheel-steering system. Four-wheel-steering is just that. All four wheels being used to steer the car. Nissan had HICAS in the 240sx and 300zx (I think), and Honda had something else in the early 90s Prelude (at least), but it did essentially the same thing. The rear wheels are made to turn against the front wheels around tight turns, and, at least in the Prelude with four-wheel-steering, turn inline with the front wheels when doing more minor turning, such as lane changes.
Hope this helps.