This will under no circumstances work under any other Mambo version than the one stated. Mambo 4.5.1 has (yet again) changed it's internal structure, so 4.5.1/4.5.2 will not work at all.
I don't have the time to update this at the moment, even though I don't think it should be very hard. I'll try to look at it sometime in April. If someone has some PHP hacking abilities and would like to give it a try I know more or less what needs to be done and can give instructions.
As for removing, just uninstalling the component should do it. If the file classes/mambo.php isn't replaced with the normal version you can just copy the file classes/mambo-orig.php over the classes/mambo.php. You will also need to follow the modification instructions backwards to remove the code changes that's been done on UBB.threads.