Try setting the refresh time to a lower amount.
You should also turn off the context menu, as the additional data it sends leads to extra server load.
In addition, hiding the shoutbox from guests prevents them from taking up resources when they can't shout (no guests can ever shout).
And finally, setting the Idle Timeout to a lower amount as well as turning on Auto-Idle can also help reduce the resources it consumes.
Fillip
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