I noticed that there was some issues with the option [More] showing up twice if there was more fav smilies selected than was allowed in the smiliebox. I fixed it by moving the following portion in the editor_smilebox inside the second set of <if></if>.
Code:
<tr>
<td class="smallfont" colspan="$vboptions[smcolumns]">[<a href="#" onclick="open_smilie_window(smiliewindow_x, smiliewindow_y, $wysiwyg, '$forumid'); return false" title="<phrase 1="$vboptions[smtotal]" 2="$totalsmilies">$vbphrase[showing_x_smilies_of_y_total]</phrase>">$vbphrase[more]</a>]</td>
</tr>
I have tried several ways and it seems to works perfectly now. Please see my earlier post for the updated information.