The author can answer better but I don't see any reason this wouldn't work in 4.0.x (or any vB version for that matter)...
The only possible issue is this line:
Code:
<!-- DOUBLE RAINBOW ALL THE WAY CROSS THE SKY -->
<script type="text/javascript" src="$vboptions[bburl]/clientscript/rainbow.js"></script>
<!-- WOW WOW OH MY GOD LOOK AT THAT RAINBOW -->
Which you could replace $vboptions[bburl] with the hard coded url of your site... in fact it may just work as is in vb4, I'm not sure.