So far, I've coded my plugins to store their settings in the same folder the DLL is stored... since adding/removing a plugin is a simple manual process, I didn't like the idea of leaving data around outside of the VA main folder.
Even if it's not the best practice, like Pfeil pointed out, I haven't had problem wint Win7 and Win10, and also never had any bug report from users so far... i think it might be due to the fact that many people run VA with admin priviledge to begin with, for other reasons.
Anyway, if you want to use the proper data folder, one option could be to use the one where VoiceAttack stores his main profile database... this way people that backup that folder will backup the plugin settings too, and you are not creating any extra directory: you can obtain that dinamically with
Io.Path.Combine(Environment.GetFolderPath(Environment.SpecialFolder.ApplicationData),"VoiceAttack")