I just released the second beta release of this hack and it's well on its way to go into final. I will start using this on my production site soon if no major issues are found on the test site.
This version is mainly to make it work properly with 6.1.0, had to remove the Graemlin bit (yay!) and rewrite some of the markups.
The new file is attached to the first post in this thread.
Changes from 1.0beta1 to 1.0beta2- Small bug fixes for some tags.
- Small fix for pages using both do_markup() and undo_markup()
- Updated the script to work with UBB.threads v6.1.0