I tend to keep my TC no higher than 8x when approaching or waiting for a convoy. A good thing I learned is to scout the convoy and see how many escorts they have riding shotgun. Once I have that figured out I engage the escorts first. Keep in mind that from time to time an escort will perform a sweep away from the convoy, usually the escorts on flank and rear guard. I have seen lead escorts perform sweeps. From your description it sounds like your V&W was doing just that -- unless you had already fired into the convoy and hit paydirt; which would put the whole formation into a zigzag.
Slow and steady wins the race.
EDIT:
As an example of unwanted things happening in high time compression; I had left my deck gun manned while patrolling near a radar contact. Dissatisfied with the speed of our progress toward the target I upped the TC to 128. When the contact turned green I immediately double-tapped the Backspace key, but it was too late. We had already sunk a neutral ship.
This PSA paid in full with negative renown.