Ohh, not sure Slax will go as VPS distro, as it's not intended for this role.
Of course you could use it like that (as any other linux distro), but the most I like about slax - is it's minimal size and great features.
As for the VPS, I would recommend using headless distros like Ubuntu Server, Debian, CentOS and other options - this are more secure and suitable for this task.