I think it'll work out well for both teams. The Leafs put Schenn in the NHL too early and while he had a great rookie season he's been below average since but he still has the potential to be a solid stay at home #3 or #2 perhaps. JVR certainly has a higher ceiling but it's obvious his stock has fallen due to his injuries this year since it was only straight up. Lupul, Kessel, JVR, Mac/Kulemin, decent set of top 6 wingers now. If they get Luongo (just a matter of time IMO) they'll be in the playoffs.
There's still alot of time for Schenn to develope into the top pairing Dman he was projected to become (gotta remember that Toronto, and the media there has a history of running their Dman thru the ringer).
A solid move for both teams; it was apparently gonna happen by the trade deadline, but JVR's health at the time was suspect - hence no deal then.