Yes. V. Vulnificus, like most pathogens in our tanks, is opportunistic. No, if you see filaments coming from it's pedal disc, there are serious problems. Its mesenteries are located inside of it. Its guts, if you will. Primary, secondary, tertiary... anyways, when they get stressed, they will leave their mouths open and expel their insides (from their mouths, not their feet) exposing the filaments. This is what provides the opportunity for infection.
Do not dip it in peroxide! H202 is a powerful oxidizer and will damage / destroy tissue. Iodine dips are fine, but would not be sufficient to stave off infection.
The thing to remember is Vibrio is ubiquitous, and present in nearly every aquarium (I'm working on an article about this now). So, you can "pre-treat" it in a hospital tank, but the minute it it returned to a display or holding tank, it will be recolonized. Ship it again, and the cycle of infection can continue.
This is a photo of an H. Magnifica specimen with its guts expelled due to shipping stress: