Smilies should be fixed in the download link in the original post. If you're getting an error on line 1 or whatever, then add <script langauge="Javascript" src="vbcode2.js"> into your body somewhere. About the pressing bold thing, I agree it could be done. I will look into that tomorrow; I'm pretty tired tonight and can't concentrate.
EDIT: The download isn't updated, LOL. I'll spit us out a brand-spanking-new version that should fix that