I live in Villars for the ski season. It is pretty and cooler in summer with wonderful views and a real sun trap when the weather is nice but practicality wise unless you work at one of the two schools I would suggest Aigle or one of the smaller villages lower down the hill. Villars is either heaving or deserted depending on season but because the seasons are so short the shops and restaurants have been declining over the years. And don't get me started on the manners of the local private school children
I think the big trouble is that is either too quiet or too busy. The feeling I have is that there is little community left as so much is transient as there are a huge no of properties that are only occupied 3-6 weeks of the year. The majority of the static population is focused around the two schools.
The other major problem is that Villars is often cloud bound, often even when the valley is still sunny. By cloud bound I mean you are actually in the clouds for days at a time.
The road can be a complete pain with some real lunatics at one end and tourists doing 15mph at the other end. Unless you live just off the main road (busy and noisy) then access in winter up some of the steeper roads in the village does require chains as they can ice badly.
We do shop a lot down the hill for most things although there is a good local coop.
Having said that I always look forward to my time here but I am retired and we normally have a stream of friends coming out to ski.
English is spoken a bit here but not as widely as in the valley.
Hope this helps a bit.
PS If I was looking again around this area I would be looking on the hillside above montreaux/vevy.