So finally got to test my Chinatrust Debit Card on a Verified by Visa payment site.
Works perfectly, as per any other debit/credit card with the verified by visa authorisation.
You can attempt to activate it online, although i went to the bank and had them do it for me after many tries and persistence.
Link for online activation: http://www.visa-asia.com/ap/tw/cardholders/security/vbv_activate.shtml#中國信託商業銀行
Scroll down the list to find the sub link for China Trust Bank.
(Website in chinese, but copy/paste into google translate and you should be ok)
The problem for me when trying to activate online was the ID number used by the bank was not the ID number on my ARC - No idea why.
Chinatrust made up their own ID number for me, in the following format,
YYYY: Your birth year - eg 1975
MM: Your birth month - eg 05
DD: Your birth date - eg 19
XX: Your initials - eg, JS (for John Smith)
Therefore as per example above, your id will be, 19750519JS
Also, your residential address is another key identifier, so ensure that is input correctly.