Agreed, it sucks big time. But it is stated in their documentation and as well on the documentation center.
VMware View 5.0 Documentation Center
Configure the Event Database
The event database stores information about View events as records in a database rather than in a log file.
You configure an event database after installing a View Connection Server instance. You need to configure only one host in a View Connection Server group. The remaining hosts in the group are configured automatically.
You can use Microsoft SQL Server or Oracle database reporting tools to examine events in the database tables. For more information, see the VMware View Integration document.
Prerequisites
You need the following information to configure an event database:
■ The DNS name or IP address of the database server.
■ The type of database server: Microsoft SQL Server or Oracle.
■ The port number that is used to access the database server. The default is 1521 for Oracle and 1433 for SQL Server. For SQL Server, if the database server is a named instance or if you use SQL Server Express, you might need to determine the port number. See the Microsoft KB article about connecting to a named instance of SQL Server, at http://support.microsoft.com/kb/265808.
■ The name of the event database that you created on the database server. See Add a Database and Database User for View Events.
■ The username and password of the user you created for this database. See Add a Database and Database User for View Events.
Use SQL Server Authentication for this user. Do not use the Integrated Windows Authentication security model method of authentication.
■ A prefix for the tables in the event database, for example, VE_. The prefix enables the database to be shared among View installations.