Had to go into openads (aka phpmyads) webpanel, go to inventory and select generate code (something like that, my panel is in portuguese).
Ask it to generate a Remote code, it will be a HTML code with <a tag>etc, etc</a>.
Grab this code and put on yout VB style where you want your ad to be exibted.

This will work for sure, but if yo uwant advanced capabilities like this hack does (like restrict to usergroups, etc) you'll have to code by yourself.
HINT: <if> tags may be really helpful in case you're doing it.

What's your phpmyads/openads version? It's really not working for me... Using the latest relase of openads...

From openads

phpAdsNew has a new name: Openads

Is it compatible?

It's the same system, it's compatible.
Some people got this hack working, but others (like me), are having problems: ad not showing up

Does anyone know if this supports "text under banners"?

I'm running PhotoPost and have a plug in which displays the latest uploaded pictures on my portal home page (jig)...

so I have vBulletin, vbPortal, PhotoPost, and a plug in which displays the latest photos.

for some reason when I enter the code <ad what="zone:1" />, my pictures disappear and i get the following errors where the latest photos should be:

Warning: mysql_fetch_row(): supplied argument is not a valid MySQL result resource in /Gallery/inc_features.php on line 67

Warning: mysql_fetch_row(): supplied argument is not a valid MySQL result resource in /Gallery/inc_features.php on line 143

Any ideas why this is causing a conflict with PhotoPost?

I run the same setup, and the ajax mods don't transfer over to vbP, so you'll just have to put the normal code from OpenAds in there if you want it to work.

Or you can hit up the vbP guys for some help getting it to work on vbP, but I didn't feel it was worth their time when I could just use the normal code and be done with it.

Still new to OpenAds...what's the "normal code"? will it still rotate banners? track impressions and clicks?

very good , for this , i have just test

Yes, they will still rotate.

In openads the code is supplied and called invocation code I believe (can't remember exactly). I think it's right after you setup the banner. You then edit your header template and add that code there.