In Visual SourceSafe, setting any version controlled object to automatically launch Toad when it is checked out, Toad shows that the object is "Uncontrolled".
Steps to replicate the problem:
1) Launch Visual SourceSafe and select any project folder.
2) Right click any of the version controlled objects and select "Edit"
3) In the "Use" section, specify the path of the Toad.exe application and click "OK"
4) Click "OK" in the second window. This will launch Toad.
5) After you are connected to the database, the procedure will be loaded into the Editor window. Notice that the status on the bottom reads "Uncontrolled" even though it's really checked out.
This feature has been submitted as an enhancement request to be implemented in a future version of Toad for Oracle.