Your only issue is the second <ul> tag. It should be a closing </ul> instead. Aside from that it should work, as long as the $vbulletin->options['html'] variable has newline characters in it. Otherwise it will all display on one line.
As a matter of convension, you should change those option names, go with a prefix like...
$vbulletin->options['mymod_enabled']
$vbulletin->options['mymod_html']
That way nothing interferes with one another later on down the road.
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