Nice work @Zachery! :) I have already started the process of implementing some of this.

Its Is in Still Beta Stage? Have any plan when will be released full version?

I have get error on 4.2.2 PL1

Out-of-Date Custom Templates Found!

There are currently 1 customized template(s) that need to be updated or reverted. Some sections of vBulletin may not function if you do not do this!

forumhome_forumbit_level2_nopost
Default Template Updated in vBulletin 4.2.1 Alpha 1 by vBulletin Solutions
Your Custom Template Last Edited in vBulletin 4.2.0 by Zachery

This file was created using a different version of vBulletin from the one you are running.
Your version: 4.2.2
File version: 4.2.0

It should be fine, you can hit ignore version, or save the template.

How to fix Out-of-Date Custom Templates Found?

Out-of-Date Custom Templates Found!

There are currently 1 customized template(s) that need to be updated or reverted. Some sections of vBulletin may not function if you do not do this!

forumhome_forumbit_level2_nopost
Default Template Updated in vBulletin 4.2.1 Alpha 1 by vBulletin Solutions
Your Custom Template Last Edited in vBulletin 4.2.0 by Zachery

Yes it is flagging it because it is from an earlier version but nothing to worry about. It will flag anything not showing the current template set version dates. With most that are flagged, nothing needs to be done and you can dismiss it. It flags all so you can check for any differences from mods and styles you did..

Compare side by side and you can see any changes or additions to the templates. Looking at them is a good way to learn as well. You can pick out the different coding added for themes and mods over time and get to really know your site and vB.

Going to ship without the threadbit template, other things kept me busy. but still, progress :)

Notes: please make sure to revert additional.css, or remove the iconic css, since it is now moved into iconic.css

Now release, the old version is in the alpha.zip file, and the newer version is in the beta.zip file

Does not fixed Out-of-Date Custom Templates Found Showing On Admin CP.