An option for manual Steering is actually working right now at the VirtuPro bike. See official Veloton video clips for more info about how it works
Breaking is set to automatic right now, but we are looking into integrating a manual break option too. This point we will evaluate when we get feedback from the Beta testers.
Collision check where no overlap of riders and avatars are allowed is already implemented at current Veloton version
Collision is already in game and working.