Im admin of a board which has 3 admins, of which 2 of us usually add in hacks, is it allowed to share a liscense no so we both can check new hacks and the likes? if so how may i go about it :)

The first thing you need to do is send in a written request via hard copy mail or fax explaining in detail the nature of your request. Detail the reasons why this would be nessasarry and provide three proofs of indentification for yourself and each additional administrator. ... Nah, just kiddin - Each user would need to create an account and add in the liscence info.... Thats about it really.

Register on the forum (as I see you already have), and ask the license owner to go to this page:
http://www.vbulletin.com/members/vbulletin.org.php
and add your username on the forum to the form.

That's it. :)

thnx for the quick and helpful reply :)