What this means in short, anyone who has a VCP-x earned prior to 10th March 2013, will need to do another VCP-x or a VCAP certification by 10th March 2015 to be recertified (extended to 8th May 2015).
Those who have earned a VCP after 10th March 2013, will have 2 years to recertified any VCP or above to renewed another 2 years from last date of passing.
This process is not a painful process as this encourage professionals to be up to date with their skills and validiate their knowledge.
Taking e.g. of myself, who did VCP-DV back in Oct 2012, by this year it would be almost 2 years. If a professional like myself who earned the VCP but hardly apply this knowledge, it is as good as gone. Doing another VCP will not just add more value to your credential but also illustrate your knowledge in this space. For a professional who are in the field applying such knowledge, doing another VCP on another track or doing a VCAP of current track would in fact add further credibility to one self.
On one hand, we are trying to make sure that VMware professional are staying up to date with knowledge to ensure the value of VMware certified professionals. I see many see this a hassle but do note with an aged certification on the market and people who achieved such certification without applying their knowledge after earning it, will dismay our creditability if they are not shown to have been staying up to date and proven of their knowledge in some ways.
Personally I felt this is a good move to update once knowledge and encouraging to move to another level of skills. Of cause I do agree there are some cost involved taking such certification, just watch out for Partner Exchange or vForum in your region or other VMware events where promotion codes will be release to take advantage of. You can also check back regularly from VMware Education Promotion site here.
Update 14th Mar 2014
Apparently this is going to benefit those who are on a older VCP e.g. VCP3. This recertification has no prerequisites. As long you are a former VCP, you are allowed to take the latest VCP5 and be certified up to date without having to take up the certification workshop and exam all over again. This is going to benefit a lot of VCPs who are still at VCP3 who needs a 5 days course and VCP4 who would need at least a What's New course before taking the exam.
Update 4th Mar 2015
VMware Education has started sending off reminders to all VCPs on their certificate 3 months before expiry. I have just received mine. If I do not recertify, I will lose these certificates under my credential. The revoke is for real. Interestingly if you notice, only VCP get expiry but not the higher certification like VCAP.
Update 12th Mar 2015
Recertification has been extended to 8th May 2015 and a 65% discount for VCP6 migration exam will be granted. Read more about it here.
Update 21st Mar 2015
I took my VCP6 in Network Virtualization yesterday and glad I managed to pass. Today I received all my certifications that are to be expired in 4th Jun 2015 as shown from my last update. Here there are now all renewed via an email to me.