viglinks is a link only monetization method (well the eBay module is actually powered by viglink but they programmed it to work by grabbing eBay ads and images). Viglinks inserts links into your article automatically when a merchant in their network i.e. wallmart, amazon, ebay, (separate from wizzley and they get a cut of the profit instead of getting the whole sale as with wizzley's amazon module) are found in your article. So if you typed eBay (or ebay) into your article and they scan the page they will turn eBay into a link to ebay.com and you get paid for the click or wizzley does if it's on their share of page loads).
I think there is an API in place that connects wizzley's article editor into viglink to scan the page and place links where appropriate. I think it does it at the publish stage not the save etc...
So at that point once it's set up and make sure you have "link insertion" turned on on the viglink site (and on the wizzle!) it's automatically checked I believe if you set it that way.
You just build your articles and don't think about it from there. The other way is to manually create links, i.e. to a specific product on Amazon.com, you'd build the link with the anchor text "amazon or Amazon" and create a link from it, insert the products exact url (full thing including http://) in the box. When viglink scans the page it will see amazon and affiliate it, and that product, but if they shop elsewhere you also get a commission. I think they get 4% of the profit but you'd have to check/verify that.
I don't use eBay capsules because they don't pay you a commission on the sale anymore, just a cheap click (10 cents, 3 cents, 5 cents...), but I let them create eBay inline text links (in the content) so I still get clicks from inside the article here and there.
Hope this helps