The 0.3 correlation described in the article is the correlation between a teacher's VAM score in a single class last year and this year.
The author is arguing that because the measurement is noisy, we should ignore it. This is silly - it just means a single class-year's point estimate is noisy, and multiple class-years must be combined to form an accurate estimate.
If you had 1/3 of your salary determined by the LOC you wrote or the number of bugs you closed, you would game the system and maximize your salary...
Indeed - if 1/3 of my salary was determined by the number of kids in my class who can read better than when they are predicted to read at this age, I'd definitely try to make sure that reading skills improved.
Conversely, if a stupid metric such as student/principal opinion were used, I'd focus on jokes and friendliness over education.
(Well, actually I didn't back when I taught. But that sure didn't help my student evaluations...)