Is the vo5 hot oil treathment going to make my hair feel greasy and hard to take out ??

You would be better off just buying a bottle of olive oil (not the 'extra virgin' but any 'plain' olive oil will do) an warming that, then putting it into your hair (brush it in) then wrapping a towel around your head and 'sitting in the sun' (use sunscreen, of course) for an hour. Olive oil was used even before Jesus time for 'washing' and also as 'hair care' and it's still 'the best' to give you 'well moisturized' hair. I wouldn't 'dye' your hair AFTER ... but if you want to bleach and then dye your hair BEFORE, it won't 'hurt the color' at all, however you hair may be 'so damaged' that you'll need to give it a 'hot oil' treatment once a week for several months to get the 'full good effect' of the oil. Olive oil is easy to 'wash out' with any good shampoo, but use the shampoo 'twice' and 'rinse thoroughly' each time ... then 'brush' and let it 'dry naturally' and don't use a hair dryer ...