I'm sure I used to do this sort of thing no problem. Take a quick look at the video here (if you want) and note the use of freeze frame.
My original plan was to ramp the speed down using velocity envelopes either to slo-mo or to a stop, then ramp it up again.
However I experienced problems with the image flickering. I've used this technique before, but not for a while and dont remember experienceing this. The flickering was present in preview and rendered video (incidentally this is all standard def avi and the problems were present on rendered avi and mpg).
So, I did away with the slowing down idea and went to a still, using the time-honoured method of selecting a single frame as a subclip, and looping that.
I was delighted to discover that for these particular clips, going to a sudden stop seemd to work just as well as slowing down.
However i was not delighted to discover that, whilst the still image was great in the preview screen, it flickered in the rendered version (both avi and mpeg2).
So I replaced the looped frames with jpegs created from the preview window "snapshot" and all looked well.
I was able to work around for this video, but i'm rather concerned that something I used to do regularly (but possibly not with VP11) doesn't seeem to work now. I'll have to experiment with new projects.