Okay here are my findings, when I uploaded the version of shoutbox here from this vbulletin.org thread and ran it on my vb5 forum, it worked (more or less) except for the parsererror200 at the beginning.
Then when I upgraded the server to PhP 7, the shoutbox did not work at all - any entry of a "shout" would result in no post, nothing.
Then I went here, to:
http://www.dragonbyte-tech.com/store...hout-vb5-beta/
and downloaded the "demo" version which after download, it is noted as the same version as what I got from this thread 6.1.0a8 [lite] but is according to DB tech an updated version even though version number have not been changed, which apparently it IS updated, because this version seems to work on my vb 5.2.1 PhP 7 running forum.
However, be aware that after first uploading the files, CH mod'ing to 777 and uploading the XML file, your forum may upon first load look scarily whacked, then on second refresh of browser you will get a not found server error, and then finally, the forum will load properly and vbshout will work.