To be honest, for me learning in Uni is a lot different than learning in VCE. In VCE I basically learnt everything out of the textbooks on my own, didn't learn too much off the teachers, as I'd covered it before the class did (I learnt a few things here and there, but not the majority). This meant that I wasn't as good at listening and learning on the spot, as others had been as they'd learnt most of their VCE off the teacher that way. So when I got to uni, it was a bit of '.... oh... I haven't learnt this way for a while... how am I going to.. hmm..'. My old methods wouldn't work since there was just not enough time to do that in uni, since you cover heaps more, a lot more than VCE. And as said above you're not spoonfed the information, you have to go out in search of it sometimes. It took me a semester to adjust the way I learnt, and to pick things up on the spot better, without having to go to a textbook and learn out of it. You get used to it after a while, even worked out a way to do maths on the train on the way home with a clipboard

Despite putting more effort into semester 1, I feel I did better in semseter 2 (well, my average for both sems was about the same, but besides one subject my marks were higher in the second semester). Some people say the first semester is the 'hardest' (not content wise, but more how you lean wise), since that is the time that you are adjusting everything and settling in.
For engineering the key seems to be 'know how to do tute questions and have a shallow understanding' to be able to do well (at least so far anyways). Despite all this, uni is definitely better than VCE

EDIT: I probably should add that this is coming from the perspective of someone who generally puts a lot of effort into things, and throughout VCE had to do things the hard way on their own. Everyone will be different, I've seen some friends who were spoonfed during VCE, who did well (99+) and go and not know how to learn properly on their own and fail units in first and second semseter. It's really all about motivating yourself and working out what works best for you
