Transient
 

Can anyone tell me how do I view the results at various time steps of a transient problem using VR, I am unable to find any relevant settings....

In order to do this you need to save the results for various time steps.
TO do this go to OUTPUT - FIeld DUMPING - and the set the recording time you want and sweep frequency. Remember for only final solution leave all to ZERO.
One thing though it will take a lot of space but it works.
From there you can also create animations.

Try that.