Hm, it does contain the delete_user_subscription method call which in turn rearranges the usergroups.
Code:
while ($subscriber = $vbulletin->db->fetch_array($subscribers))
{
$subobj->delete_user_subscription($subscription['subscriptionid'], $subscriber['userid'], -1, true);
}
I will have to look into why it's not working for me, perhaps the cron is not being run.