This is possible. I have no restrictions on my server and run my testboard on a subdomain. This works for me. Its in both cases the same sql server but different databses. My testboard is closed but you can see the Featured Box runnig on the portal:
http://www.dragon-clan.de/ubb7/ubbthreads.phpI m sorry that I have no more suggestions for you at this point. The script is quick and dirty done. It can be enhanced a little bit so all settings can be done on top.