[kh99]

You are using {option} as the href, but your tag includes no option. I think you want something like:

title : MoreUrl
BB Code Tag Name : XXX
Replacement : <a href="{option}" style="border-color:red;border-style:outset;" />{param}</a>
Example : [XXX=http://www.vbulletin.org]VBulletin.org[/XXX]

or else

title : MoreUrl
BB Code Tag Name : XXX
Replacement : <a href="{param}" style="border-color:red;border-style:outset;" />{param}</a>
Example : [XXX]http://www.vbulletin.org[/XXX]

or both, if you'd like.