Vince was an update that seemed to push big brands to the front of the results. Panda was more about demotion versus Vince which was more about promotion, or at least that is what SEOs and Webmasters feel.
The senior member, potentialgeek, said:
Vince and Panda work together. Vince promotes authority/trusted sites; Panda demotes thin/shallow sites.
Vince 2.0 I believe gave more authority to sites that Vince 1.0 liked. The dial got turned up. After 2.0, Vince in my sector let the top two authority sites for widgets get many top rankings for related keyword search phrases; e.g., red widgets; blue widgets; white widgets, etc., etc. Before Vince they had no rankings for those phrases. After Vince 1.0 they got top 5; after Vince 2.0, top 1-2.
Technically, these updates are still likely Panda related but they can have characteristics of Vince.
Forum discussion at WebmasterWorld.