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For a related question, invariants of the action of $G$ on the space of pairs of {1,...,n}, (this is a quotient ring of $C[V]^{G}$) see Sect. 2 of Algebraic invariants of graphs; a study based on computer exploration, by Nicolas M. Thiéry. However, the generating set given there is certainly very far from a minimal, and degrees are high. Sect. 10 of this paper also discusses the ring you are asking about.
For a related question, invariants of the action of $G$ on pairs of {1,...,n}, (this is a quotient ring of $C[V]^{G}$) see Sect. 2 of Algebraic invariants of graphs; a study based on computer exploration, by Nicolas M. Thiéry. However, the generating set given there is certainly very far from a minimal, and degrees are high. Sect. 10 of this paper also discusses the ring you are asking about.