drkknight: That problem only stems if you have an old ubb_whos_online.cgi. Can you open up ubb_whos_online.cgi and see if the version inside there is 4.0.0?
I think the problem is that you haven't installed the templates yet either. Delete the WOLBackup directory inside your UBB CGI dir. Then re-run ultimatebb_whos_online_install.cgi and select the install_templates option now. This should do the trick.
Donate to UBBDev today to help aid in Operational, Server and Script Maintenance, and Development costs.
Please also see our parent organization VNC Web Services if you're in the need of a new UBB.threads Install or Upgrade, Site/Server Migrations, or Security and Coding Services.