I do not think it will work with a sub domain sorry.
EDIT -
Although it may if you follow this part of the directions in the lead thread:
I did the best I could in determining your forums file path with the script. There may be certain script setups that cannot find the file path properly, in which case you may get errors that the script cannot find or open /config.php. If this is the case, please HARDCODE your ABSOLUTE path to the forum in vbridge.php.
To do this find all instances of,
Code:
chdir($_SERVER['DOCUMENT_ROOT'] . get_option('vbb_VBRPATH'));
And replace the code with:
Code:
chdir('/your/absolute/path/tothe/vbulletin/directory');
Obviously, change the path to your absolute FILE (not URL) path.