Well, I've been playing with this. And I am truly impressed.
http://x.russbo.com/vb/vb_o_gram.php?do=main&imageid=26
A few things that might help:
You can put any size in for the swf files, I use 500 x 500; if you go too wide, it will interfere with the drop down menus.
Get Flash Saver to capture your swf files:
www.flash-screen.com
I resize my images down to 640 x 480 before uploading them. The upload in the admincp works great. If you FTP stuff to your image directory, use the "manual data entry " input link in the image list.
Make sure that you put sizes in the admincp upload area, otherwise nothing will show.
Put your images folder, chmod 777, into your forums directly, call it what you want. Write that into the vbulletins options / VB O Gram section.
It works great in IE. Netscape has some issues.
Really wish someone would figure out why Netscape won't allow text message input.
Nice job trafix. Works great. My girlfriend isn't talking to me anymore.
LOL