Tip 1: If you get an error message with info on how to fix the problem, follow it.
Tip 2: Always read the readme.
=]
I'm not sure if this is the problem, but if you haven't replaced the original classes/mambo.php file in Mambo the component will not work.
There is a whole bunch of things needed to be done, which are explained in somewhat detail in the readme. Try reading the installation information and see if that helps, if not I'll have to make further checks.
I'll try to add some checks in all scripts that the mambo.php file has been replaced and give warning if not for a future release.