Sorry about the late reply - I haven't been on the computer lately! The worms are fine when you go on vacation - we were away for a week a couple of times last summer, and they happily made compost while we were gone. You can harvest the compost after about 2-3 months, and I usually get about 2 gallon jugs full. I have info on my blog - Mother Necessity: There Are Worms in my Kitchen!
if anyone wants the details.

I've been using a Rubbermail trash can with holes drilled into it for a couple of months. I take kithen scraps out to it every day, and occasionally throw in some grass clippings. I have not been good about keeping it wet or rolling it on its side regularly, but it is starting to break down into dirt.

I have a big compost pile ( 5 feet tall! ) that is full of straw from my chickens, coffee grounds, filters, eggshells, banana peels, etc. I just turn it with a pitchfork a few times a week, ( takes about 10 minutes ) and water it when it gets really dry. Sometimes if I am in a hurry, or just on my way out or something, I will just toss the little pail full of grounds, shells, bread crusts, etc right out into the garden....have had no problem with doing that.