There are no queries for the shoutbox if you already have it installed, which RC1 assumes you have.
In your case LightBringer, you just need to run the queries in the vbiqueries.sql file to add the options to the CP and then upload the new vbindex.php file. Thats it

The only other change for you would be to add $readmore into the home_newsbit template if you intend on shortening the newsposts.
Hope thats helps