The lilo rescue option will only work if you have a linux installed in your system.
Did you have a windows installation in your system? Did this get wiped out when you repartitioned?
You can always boot your installed Vectorlinux using the install cd by following these instructions
at the boot prompt (when the cd loads) type this
linux root=/dev/xdxx ro
where "/dev/xdxx" is the address to your / partition selected during installation (ie, hda1,hdb1,hda2, etc)
After you boot the system, you can run
as root in a terminal