I went back in 2012 with my (then) vege girlfriend. I skipped last year but only so she could enjoy it without running into me and running any risk of reopening fresh wounds.
Personal sh*t aside, this is probably the best of the summer festivals over at Harbourfront Centre. I am not a vegetarian but the food on offer here is incredibly satisfying. It was really fun visiting all of the booths and trying to try everything available then going back for favourites the next day. This is one of the few festivals of any sort in Toronto where 1. the food is actually a good value and 2. the food is actually stuff you can't get just anywhere anytime.
NOTE: just because it is vegetarian does NOT always mean that it is healthy. Lots and lots of yummy fried goodness here!
Beyond the food, the selection of musical performances, speakers and the vendors are all fine, probably more so if you are actually vegetarian/vegan or thinking of becoming one.
The crowds are not too bad but if you are concerned, go first thing on Friday night. Just know that sometimes at the Harbourfront Centre not everything is set up and ready on the first night of their festivals.
Very recommended, especially for the food. Take $20, stuff yourself and enjoy the fine micro climate of Harbourfront Centre in the final days of summer.