Don't know what's happening exactly, but I've already had a few problems with intellisense too. (In my case it simply didn't work anymore an it was a c++ project, not vb)
I've solved the problem with deleting the [ProjectName].ncb file in my project direcotry.
This is the Intellisense database and it will be recreated when you first open your project again.
I'm not sure if there's such a file in a vb project and don't know if this will help, but I think it worth a try ;)