Yes, the vendor can see reporting of sales order and products by just sign in to vendor account and then go to Reports tab.
The vendor can see the reports day wise / Month wise / Year wise and on the basis of the products and sales order status.
It will support all most all the Magento versions.
Following are the versions it will support:
Version - 1.5
Version - 1.6
Version - 1.6.1
Version - 1.6.2
Version - 1.7
Version - 1.8
Version - 1.8.1
Version - 1.9
For more detail, you can take reference from following the link in which we provide user guide which will help you in understanding the work flow of our extension.