Velocd: You can't put any path declarations in the array, only a domain or IP address. So you can't add say,
www.forums.com/forums/, only
www.forums.com.
Bofo: Yep, you can add more, just add more fields to the array seperated by a comma.
JJR512: I can't comment on the other hack, I'm at work at the minute so don't really have time to check over it at the moment, but I'm imagining that the other hack uses some database resources, whereas this one doesn't. By sticking the code right at the top of the script, it cuts out processing time and disk access, as there is no need to include global.php and parse it's contents. This script simply checks where the request comes from, if it isn't known, it bombs right out, if it is allowed, it then goes forth to process the rest of the script.
Hope that helps.