Thanks for the offer Joshua, but as a community i think it's better if you help me on here. If your answers are able to help me, it might help other users here as well.
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Well here is the problem I have:
At my install page, the following are flagged red:
http://planetwebhosting.com/billing/install_v4
error_reporting
6135
register_globals
OFF
session.use_only_cookies
OFF
I tried to change the values of my php.ini file in root of my install dir, but the changes there do not reflect back at the install page.
Also want to note, I did delete the .htaccess that came with the ModernBill install.