Visio Diagramming in VB.net

Is it possible to deploy a Visio diagram within a vb.net application?

I would assume so. You should be able to add the component it uses by right clicking in Project explorer and selecting Add Reference...search the com tab for Visio components.

I dont believe there are any striagh Visio .NET assmeblies yet.

Would Visio need to be installed on the computer where the vb.net applicatin is deployed?

well the component of visio that you used in it would have to be..perhaps not visio in its entirety.