Hello folks, and thanks for the comments.
Regarding the debug boolean: Yes, I agree. I've actually had the same comment from about 3 others since I posted the link yesterday.
Regarding multiple instances: Yes, you can have multiple LabBASIC VI's running in parallel without any issues.
Regarding calls back to LV: Hmmm, this is possible, although would require a small change to the code. It's possible via COM to connect to the LabVIEW engine and set parameters. The current beta doesn't pass the COM reference of the calling VI to the LabBASIC VI, but I will look into this.
Best regards,
Chris