I have a hunch that it is perhaps a bug in this version of PHP with the amount of arguments you can capture with preg_replace (this is just a hunch).
To see if this is the problem, in the vlibTemplate.php file that he is using, scroll down to line 1224 (approx.), you should see a line that looks like this:
$newline = $args9;
Try changing this to:
$newline = '';
This should tell you whether the problem is what I think it is.
If this is the problem, and probably even if it isn't, I shall probably be removing this parametre from vlibTemplate.
Kind regards,
Kelvin