The link that Jay posted is the
source of road information in Vermont. I see that many of the announcements are dated yesterday afternoon, when things were at their worst. The person who takes care of the web site has probably been awake for two days, so I am ready to give them some slack.
Check some of the latest posts in this topic for more: http://www.adventurecycling.org/forums/index.php?topic=9678.0
As you see, most of the damage is in the southern and central parts of Vermont. The small rivers are going down fast, but the big ones--Winooski, Lamoille, and Connecticut--will take a few days. I think northern Vermont will be good riding by tomorrow, and the VTrans web site should catch up to give you a good look.