Nikon provided an ED glass in the 18-55mm II because there's less elements and groups (7/5), and they need to add an ED glass to reduce flaring. But for the new 18-55mm VR, they added more elements and groups (11/8) to correct flaring, hence no need for an additional ED glass. Don't know how true is that.
AFAIK, ED glass is just to reduce chromatic aberration (colour fringing). For coma and spherical aberration, you can get by with aspherical optics or use more elements for correction, ED glass doesn't help. Sometimes aspherical optics may cause even more flaring if not designed properly.