Hi again,
I took a look at your code Nordinho and made some minor changes to it, you got pretty much all the code, so far it seems to work with vba cmps v2, so I'll show you the code that you had with my little fixes, hope that this will help you Nordinho, fLoW, and JWEB for now, later on I'll see if I can fix the issues with the title's <if> functions and the fix with the "seperate news posts".
First things first, if you want this module to work correctly, you have to disable module shell template for the "News" module.
Second, you need to make sure that this is set to Yes in the page that you want to show the news in 2 columns "Seperate News Pages".
Last thing you need to do is to open your adv_portal_newsbits and paste the following code,
<if condition="$newscount == 1">
<table cellpadding="0" width="100%" height="100%">
</if>
<if condition="($newscount % 2)">
<tr>
</if>
<td valign="top" width="50%">
<table height="100%" align="center" border="0" class="tborder" cellpadding="$stylevar[cellpadding]" cellspacing="$stylevar[cellspacing]" width="100%">
<tr>
<td class="tcat"><if condition="$mod_options['portal_news_showicon']">$vba_style[portal_blockbullet]</if> <a href="$vboptions[bburl]/showthread.php?t=$news[threadid]">$news[title]</a></td>
</tr>
<tr>
<td class="<if condition="$mod_options['portal_news_legacy']">thead<else />alt2</if>">
<if condition="$mod_options['portal_news_showrating'] AND $news['votenum']">
<span style="float:$stylevar[right]"><img alt="" src="$stylevar[imgdir_rating]/rating_$news[rating].gif" title="<phrase 1="$news[votenum]" 2="$news[voteavg]">$vbphrase[thread_rating_x_votes_y_average]</phrase>" /></span>
</if>
$news[dateposted] - <phrase 1="$vboptions[bburl]/member.php?$session[sessionurl]u=$news[postuserid]" 2="$news[postusername]">$vbphrase[by_x]</phrase>
</td>
</tr>
<tr height="100%">
<td align="$stylevar[left]" class="alt1" valign="top">
<if condition="$news['avatarpath']">
<img align="$stylevar[left]" style="padding:6px" alt="" border="0" src="$news[avatarpath]" title="$news[postusername]'s $vbphrase[avatar]" />
</if>
$news[message]
<if condition="$show['signature']">
<div>__________________<br />
$news[signature]</div>
</if>
</td>
</tr>
<if condition="$news['attachment']">
<tr class="alt1">
<td>
<fieldset class="fieldset">
<legend>Attached Files</legend>
<div style="padding:$stylevar[formspacer]px">
$news[attachment]
</div>
</fieldset>
</td>
</tr>
</if>
<!--your here -->
<tr class="alt2" valign="middle">
<td valign="middle">
<span style="float:right">
<if condition="$show['editbutton']">
<a href="$vboptions[bburl]/editpost.php?$session[sessionurl]do=editpost&p=$news[postid]"><img alt="$vbphrase[edit_this_post]" border="0" src="$stylevar[imgdir_button]/edit.gif" /></a>
</if>
<if condition="$show['replybutton']">
<a href="$vboptions[bburl]/newreply.php?$session[sessionurl]do=newreply&t=$news[threadid]"><img alt="$vbphrase[reply_to_this_post]" border="0" src="$stylevar[imgdir_button]/reply_small.gif" /></a>
</if>
<if condition="$mod_options['portal_news_showsendfriend']">
<a href="$vboptions[bburl]/sendmessage.php?$session[sessionurl]do=sendtofriend&t=$news[threadid]"><img alt="" border="0" src="$stylevar[imgdir_button]/sendtofriend.gif" title="$vbphrase[send_to_friend]" /></a>
</if>
<if condition="$mod_options['portal_news_showprintable']">
<a href="$vboptions[bburl]/printthread.php?$session[sessionurl]t=$news[threadid]"><img alt="" border="0" src="$stylevar[imgdir_button]/printer.gif" title="$vbphrase[show_printable_version]" /></a>
</if>
</span>
<span class="smallfont">
<if condition="$mod_options['portal_news_allowreplies']">$news[replycount] <if condition="$news['replycount'] == 1">$vbphrase[reply]<else />$vbphrase[replies]</if> | </if> $news[views] $vbphrase[views]</span>
</td>
</tr>
</table>
</td>
<if condition="!($newscount % 2)">
</tr>
<if condition="$newscount == $mod_options['portal_news_maxposts']">
</table>
<div><img src="$vboptions[bburl]/$vboptions[cleargifurl]" height="$vba_style[portal_vspace]" alt="" /></div>
</if>
<else />
<if condition="$newscount == $mod_options['portal_news_maxposts']">
<td class="tcat"><span class="smallfont"><b>$vba_options[portal_blockbullet] Advertisements</b></span><br /><br />
<center>
<script type="text/javascript">Ads</script>
</center>
</td>
</tr>
</table>
</if>
</if>
One last thing that I would like to mention, if you want all the news posts in the columns to have the same height, the best go at it is to simply decrease your news maxium character number, "Maximum Characters to Display".
Hope that this will fix your problem for now Nordinho.