Well first-gen Wide I/O gives up to 12.8GB/s on a 512-bit bus, but Chipworks says the Vita has 2x512-bit memory, which means the Vita potentially has up to 25.6GB/s of video memory bandwidth, more than the PS3. That would definitely put the bottleneck elsewhere.
I honestly don't know anything about the Vita's memory interface, but I doubt it's anywhere near 25.6GB/s for obvious cost reasons... Chipworks has done some mistakes in the past, and for example I wouldn't be surprised if these weren't all signal pins. At the very least it's likely clocked lower, but who knows.
I think the implication from a number of presentations was that at least some devs definitely were. One thing which can probably take a fair bit of bandwidth on the PS Vita is post-processing but framebuffer compression should help in RogueBut this assumes that the TBDR is playing nice with the conventional g-buffer techniques (that all the passes are staying in-tile)