I don't think so. My setup accepts AC3 anyway. I think it's because a VOB isn't structurally identical to an MPEG, but close enough for the application to get at the video part.
Interestingly, if you do the same thing (rename the VOB) and try and play it with CinePlayer, say, it will be fine. Whereas Windows Media Player will just hang up. I think this is because CinePlayer knows its structure - that it, knows it's a VOB - and is obviously able to handle it, since this is what it's designed to do. Media Player, on the other hand, is misled into thinking that it is a real MPEG and then gets into trouble from which it cannot recover.
As I mentioned before, it's no big deal. You just have to use a demuxer to break down the streams and then edit away in your authoring tool of choice. (There may be a conversion necessary if the audio stream is AC3 and your system can't handle it - you'll need to convert to PCM, or even MP3 if you're in PAL country).