I did this hack on 5.47d. Digital Boy's instructions only missed a couple of lines. I don't recall which ones, but here's what I did:
Open each CGI file in your editor and starting from the top, use your editor's search feature to find any occurrence of "html" (note that there is no . before the extension). You can continue searching down to the end of the page by clicking Find Next.
You will come across many instances of "html" that should not be changed. The ones you need to change to shtml are any references to your threads, which would look like:
...$ExactPath/HTML/$number.html
or variables that hold the file extension which looks like:
$FileExt = "html";
Digital Boy's instructions also tell you to change the directory names to SHTML, but it is not necessary. Also, the instructions make no mention of active.cgi (for those that have the active thread hack installed). You will need to do the same thing in that file, but I think it's only one line you have to change.
Anyway, make sure you do a thorough search through every CGI file in the instructions so you don't miss anything. This is really the only way to do it safely because the reference line numbers in the instructions are almost useless if you have a lot of hack already installed.
Finally, make sure you understand what needs to be changed before attempting this. And don't forget to ftp into your site and delete the .html thread files before updating your threads. If you changed the directory names from HTML to SHTML when you did the hack, you will also need to delete your HTML directories.