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Muto vim (wizard's boost) is momentary .
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Muto vim, which target a spell in creation (and not a spell created) is basically turning a formulaic spell into a spontaneous. Spontaneous spell exists by themselves.
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by the errata, I would say that yes both have to penetrate.
However I lack to understand how it can work since the Muto Vim spell resulted in a real consequence and I think this errata clearly create a paradox for muto vim magic.*
The "magical energy" you were working (which is not a spell) turned by your muto vim in a spell which is real; when the spell is cast, the "magical energy" is gone. So there is no more "muto" magic. This is enforced by the fact that you are only able to muto vim spell which are not yet cast. A spell not cast is not a spell, but magical energy in process of becoming a spell. PerdoVim can affect both. Muto is said to be imperfect regarding transforming magic.
So, IMO, it's like using a momentary muto spell to transform you in a geant form, breaking chains which were holding you. When the momentary spell is gone, the chains are still destroyed.
- the errata says that muto vim must have a duration for the spell affected, but muto vim says that it can't affect a spell. I think that thinking in term of "transforming the magical energy" is more accurate and answer the problems.