Tom - shouldnt be any problems. The text may have to be trimmed though. Ill look into the " problem. To me - that sounds like a minor bug
greenhybrid - you are getting js errors saying that the js functions are not there. Are you positive that you made the changes correctly to vbulletin_menu.js?
Orange - there are a few performance tweaks which makes it chug along a bit faster. Other than that and the categories - its it for the most part. If your happy with 2.6 - than no stress there. Saying that - you dont lose your existing entries. They only land in the 'unknown' category. The default replacement code is the standard one from 2.6. I guess what I am saying is that if you upgrade but dont do anything else with the settings - youll end up with exactly what you have now but slightly faster. Then as you add links - you can add them to new categories with popups or standard - or whatever.
Up to you

I am also believe in 'if it aint broke...'
KTBleeding - can you give me a few links with some examples so I can check it out?