Yes, it is rotating counter clockwise. I didn't replace the motor, just a gear in the gearbox. I fear I don't have the shaft that has both the drive gear and the cam that runs the switch set properly. I was thinking about taping down the sold out switches, opening the door with the latch latched and dropping a quarter, then pushing a button to see how the drop arms are working. Apparently this is not a very popular machine. I got it probably 15 years ago for $50. It's not the greatest looking machine but it's cool to have in the garage. I keep a stack of quarters on top in case someone wants a soda. There's not a lot of people who work on these old square tops. All of the restores and parts people seem to work on the round tops and the ones with the glass doors that open. Any help is appreciated. If someone has a picture of the motor installed in there machine, that might be a help. Thanks.
The attached is not my motor, but it looks just like it. I got this from an old post that Termite posted. His machine is a VF-100, mine is a VF-148. They are very similar.
(Square top)
(pics of the machine;
http://soda-machines.com/discussions/index.php/topic,21007.0.html)