I have never used vbplaza and I do not have enough knowledge to judge, but I would not install version 1.58. Everyone running it, should uninstall it.
I don' t think that it just has been banned from vb.org, just because the author wanted to charge for the hack. Vbplaza people seem to have admitted the security hole, so from my point of view there should not be any doubt on its existence. That you have not been hacked, does not mean that your site is safe. Even vbulletin needs to be updated from time to time, because new risks have been discovered, but not every site is updating.
Everyone in need of a point system should have a look at vbcredits or vbexperience. I think vbplaza has a lot more to offer, but those hacks should be good enough for most sites.
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