No. compression braking was a good thing like 20 years ago. Modern brakes are a lot longer-lived than they used to be, so now compression braking does more harm than it does good.
As for sitting in 1st at a red light, that's where you ought to be anytime you are stopped unless you've got unusual conditions like a really icy road. If you leave it on automatic that's where the AT will go on its own.
The VX is my first and only automatic, but I really see no reason to manually shift during normal operation.