I do. The VW 507 00 specification is a document published by VW and regularly updated. It includes all expectations of an oil that are required to be met in order to be approved. This includes a long list of physical and chemical laboratory tests (eg viscosity at various temperatures and shear rates, element levels, ash, pour point, volatility etc) as well as a list of engine tests that must be run and passed, looked at wear, piston deposits, sludge, DPF blocking, fuel economy etc.
To hold a formal approval you must carry out all the tests at accredited test facilities, achieve results that meet VW’s limits, declare your formulation precisely and commit not to alter it beyond the limited variance that is allowed and then send all this data to VW with a fee, they will inspect and verify it, and if all ist in ordnung you get a letter of approval for that formulation under that brand name for a defined period of time. Only then can you formally claim to have a VW approval.
Over time the approvals expire; they can be reapproved, which usually means a limited bit of validation work unless VW have updated the specification in the mean time, meaning you have to meet the new requirements which can mean the need to completely reformulate and start from scratch. Such changes are signalled well in advance though, giving time to get products ready for the latest spec version.
Also worth mentioning that to achieve VW 507 00 you must have ACEA C3 and you have to also have VW 504 00 (for petrol engines), hence you will (or should) always see an oil with VW 504 00/507 00, which is collectively and colloquially known as “VW longlife 3”.
Finally, be careful with the spec numbers. The full specs are 504 00 and 507 00, not just 504 and 507. In this case it is not a problem as there are no other 504 or 507 specs, but there are some VW specs that have the same first number and different suffices, making a huge difference. For example there’s 505 00 and 505 01 and more recently there is 509 00 and 509 99, which are vastly different specs.