Live backups are NOT a primary backup solution at this time. Live "snapshot" backups are utilized to ensure that a failure (e.g. a complete server hardware failure) results in very little data loss. We recommend implementing a tape or USB backup solution first (the primary backup solution).
With the latest updates for the SQL Anywhere database engine, it can be made VSS aware if you are using a backup solution that uses Windows Volume Snapshot Service. This functionality is something we are looking to add to the server installation of OASIS in the future. Given the nature of OASIS usage, this is something we want to test thoroughly so we fully understand the performance hits during the freeze and thaw cycles from VSS activities.