Like I said I'm pretty sure there aren't currently any "trending" mods for vB at this time.
The algorithms needed to create one specifically for forum threads would need to be pretty intricate to be worth anything. You'd have to consider many factors, like threads with tons of posts that are from just a couple individuals should not be weighted as high as a thread with less posts but more individuals interacting. Someone would have to arbitrarily make all these weighting decisions and I'm not sure it would be worth much.
Most of what is referred to as "trending" on the internet currently is in respect to popularity/sharing on social networks, which stock vB4 is severely lacking in, but can be added without to much work.
I personally do this by using AddThis on vB forums. This can be done this way:
1) Install AddThis social sharing buttons in each thread. Do this by editing the "facebook_likebutton" template.
2) Then using the AddThis trending script (
https://www.addthis.com/get/trending) I create a custom "Trending" page and "Trending" widget on vB.
The limitation with something like this is it only works if your users actually click the social sharing buttons. It works well for me because I use lots of custom information pages on my sites which get shared a lot, but users don't share threads nearly as often.
...but at least it's another idea.