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Thanks for asking.
The Virtual Remote emulates all codes supported by Apple's own IR subsystem.
The Apple IR system has no codes for Up (hold) or Down (hold). It only has codes for "Up" and "Down".
So, every application that wants to f.ex. differentiate between "Up" and "Up (hold)" needs to measure the length of the press _itself_ and then react differently.
Since that differentiation is taking place within the applications that support it itself, it's also up to the developers of each of these applications to determine how long you need to hold the respective button before it becomes a "held" press. Since that amount of time is unknown and can vary, there is also no way of offering extra options that _reliably_ simulates a long press.
If you want to just pass through all Apple Remote button presses to Apple's own IR subsystem, you'd choose the Virtual Remote's "Up" and "Down" actions for the "Up" and "Down" buttons - and no action for "Up (held)" and "Down (held)".
Best regards,
Felix Schwarz