Well, I see several problems with that addon, don't even know where to start. I would not recommend using that at all since it can essentially ++++ up your installation. What happens if you insert some bad code in for example the global hook? You can't even disable that addon anymore then. Then you have to make all your files world writable. I'll add a note that using this plugin is not recommended with this extension.
TECK: As far as I can see, the plugin accelerator plugin writes the plugins INTO the official vBulletin files INSTEAD of the hook calls. So you basically end up hacking the offcial vBulletin files. Meaning when something goes wrong you can reinstall vBulletin. The problem is that APC/eAcc doesn't cache eval().
What I DO recommend is when you're having a lot of plugins move the code to an external .php file and include that one at the global hook. I have a 20kb plugin.php with all my php code in it, I only add if's and function calls to the actual plugins.
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