That should work fine. Does here. What version is being used? The latest is here. For licensed users upgrades are free for up to six months. After that, VP will continue to fully function but a fee will be required in order to register the newest.
Using a beta version, a nine second clip was ramped up to 200% in the bin and dropped to the timeline. Then, prior to a speed change, it was dropped to the timeline first, and sped up there.
Both approaches resulted in a four-second clip on the sequence.