Well, I didn't even know about boardmod till about 2 weeks ago when I registered on these forums
Before that I had a webmaster that was doing my yabb forum for me. Once I found out how he was doing it, I figured I'd learn it myself!

But in the interest of finding the error I downloaded some earlier versions for testing.

2.5.4 New Download - Hehe, wasted all my time on this. The new download installed like a charm. Must have been a bad download before like you suggested before.

Below I download a bunch of versions and tested them writing down the results. Even the errors from the 2.5.4 download. No need to read them but I already had them typed out!!

2.5 - Simply extracts to a folder and works fine the first try. (Blue background)

2.5.1 beta 3 - Simply extracts to a folder and works fine the first try. (Green background)

2.5.2 - Actualy has a setup file and works fine when launching boardmod after install.

2.5.3 - Went in like a charma and ran fine when launching from setup.

2.5.4 Reinstall - When checking the launch Boardmod on exit from the install program - "Access violation at address 0048FF1A in module 'BoardMod.exe'. Read of address 00000000.
I lied its not a windows 98 window its xp style with the round corners just no green background. In path to script box it says 'Script_Path'.  It lists three mods: mod1 mod2 and mod3. If I click on one of these mods it gives me an error - "Error code 8: The following mod file could not be found: c:\\program files\BoardMod\Mods\\mod1. If I try to put in the path to my yabb.pl it give another access violation at address 0048B13A in module 'BoardMod.exe'. Read of adress 00000000. It puts the valid path in the path to script tho. If I then exit the prog and restart it, it runs fun and nothing in the path to script.