Views are not treated as read-only in VSS (Microsoft Visual SourceSafe) (20846)

I have set up VSS with Toad. Everything is working good except when I pull up views in the SQL editor, I see that they are not read only like the procedures and other controlled objects.

This is because Procedures are edited in the Procedure Editor and Views are loaded into the SQL Editor. When you load a View into the SQL Editor, it doesn't treat it like an object but rather a script, which is why you are prompted for what View Script Options you want to include/exclude when you load it, and why the Team Coding check in and out apply to scripts there.