There are 12 Trophies that can be collected.

BRONZE

Stage 1 Complete
Complete Stage 1 of Arcade Mode (any difficulty)

Stage 2 Complete
Complete Stage 2 of Arcade Mode (any difficulty)

Stage 3 Complete
Complete Stage 3 of Arcade Mode (any difficulty)

Stage 5 Complete
Complete Stage 5 of Arcade Mode (any difficulty)

Certifiable
Play Ranking Mode in Arcade Mode (hold down P+K+D+START button during Attract Mode)

2.0
Play Arcade Mode or Offline Versus in ver. 2.0

Class of '94
Select game settings in Arcade Mode while holding the □ button to enter Attract Mode

SILVER

Ring Out
Win a round by ring out in Arcade Mode (any difficulty)

Excellent
Win a round without receiving any damage in Arcade Mode (any difficulty)

Expert Mode
Enter ↓↓↑↑←←→→ at the character select screen in Arcade Mode

Dural
Use Dural in Arcade Mode or Offline Versus (In Ver.2.1 hold START button when selecting a character)

GOLD

Sudden Death
Play the Sudden Death stage in Arcade Mode or Offline Versus

http://www.ps3trophies.org/game/virtua-fighter-2/trophies/