Yes - You upload the images directory into the root folder of your forums, and then you install the .XML file. For the style to be compatible with vBAdvanced CMPS, you will need to edit the header and footer templates and change the relative URL's (images/epic/something.gif) to direct URL's (
http://www.yoursite.com/images/epic/something.gif.) You'll also need to change any references to the images in the Style Options for it (IE - The category/header backgrounds, buttons, etc...)