To settle a suit with the New York state Atty. General's office, Irvine-based VLI Corp., maker of the Today sponge, agreed to drop allegedly misleading information about the contraceptive's effectiveness and potential side effects. The company also also agreed to pay the state $30,000 in costs. A VLI spokesman said the ads in question were pulled nearly a year ago. He said the company settled the case to avoid a protracted and costly court fight.