[Barteh]

You're going about this the wrong way. As with almost all mods it just creates extra tables in your existing vbulletin database. Just looked up the installation instructions, and they're even simpler than I thought:

Installation:
1. Import XML file (as product): AdminCP > Plugin System > Manage Products > [Add/Import Product]
2. OPTIONAL (custom placement on forum page)
Open desired template and put "$cybchatbox" to desired line.

That's it. No creating databases, no excessive modification of your board required, just import through the admin CP and *possibly* edit additional templates (if you want it to show up in more places than FORUMHOME).
The rest of it is modifying the chatbox settings themselves, but the chatbox hanging at 'loading...' doesn't sound like a settings issue.

Out of curiosity, do you have a lot of plugins installed at your browser? You may want to download a second one (for example google chrome) and keep that devoid of any modifications, a convenient way to find out if it's somehow a problem on your PC.