Yes, it's a great oil. It's not VW 502 approved, but there are plenty of oil analysis reports floating around that confirm this. I've been using it for the last few years in my Passat, as well as my Cummins powered Ram.
You're thinking for the newer TDI engines with the DPF. Those can't use unapproved oils like the Rotella T6 as it may clog the DPF. For our B5 passats, including the B5.5 TDI, the Rotella T6 can be used without issues.I don't know about this one, but in the past one issue was catalytic converter compatibility with additives in diesel oil (I think!).