As a point of information for the OP, oil quality can affect the VVT actuator solenoids... if it is not the recommended weight, or has not been changed regularly. I believe running with these codes can affect oil flow to the top of the engine and could cause serious problems if unattended.
I replaced the solenoids on my 09 at 100k when the light came on. I got cheap aftermarket ones because I didn't know how much longer I would have the car. 125K now it is still happy. NO code. They were easy to change so easy I had my 17yr old son do it I just inspected his work. Make sure gas cap is tight first for the one code. I would get the solenoids changed sooner than later, some models bmw will work for a while the computer tries to adjust things but as times one things get so out of wack the car won't start. I didn't wait that long on my z3 and not saying it will happen on chevy ( bmw's have more sensors it seem like anyway.)
"You can drive with this valve malfunctioning, but you shouldn’t drive too far. Getting to your neighborhood repair shop or dealer as soon as possible is strongly recommended.
The reason why is that the OCV or oil screen may be partially or completely blocked. If this happens, lubrication to the cam sprockets and chains will slow or cease. This can lead to rapid cam sprocket and chain wear and then failure."