vrad = lighting, does all the lighting calculations and radiosity. Without it, it would look like a map with mat_fullbright 1
vvis = occlusion, works out the visibility of brush from a certain other brush so only the brushes you see have to be rendered. Without VIS, all brush faces of the entire map would be rendered, because modern engines using BSP don't have realtime occlusion. It's not necessary when testing a map, because it takes by far the longest to do when compiling, but essential for a final render.
Although when you turn of VIS, your lights don't produce any radiosity anymore, just direct lighting, at least it was like that in HL1.