It's actually quite easy for Environment parameters to be created (they are the ones found under "File\Settings\Environment\User-defined" and are visible/editable in ALM/QC).
Not sure how you would delete a variable though...
Also not sure why it bypasses the ParameterDefinitions methods or if they are different in a way that would benefit the user to use them separately.
Code:
'Instantiate the QTP OTA
Set App = CreateObject("QuickTest.Application")
App.Launch
App.Visible = True
'Open a test as required
App.Open "C:\Program Files\HP\QuickTest Professional\Tests\trial", True
'To add an environment variable to a test
App.Test.Environment("MyNewParam") = 2
'To change an existing variable just re-write over the variable
App.Test.Environment("MyNewParam") = "Two"
'Exit safely ;)
App.Test.Save
App.Test.Close
App.Quit
Set App = Nothing
Also not sure why it bypasses the ParameterDefinitions methods or if they are different in a way that would benefit the user to use them separately.