This alias contains many errors, I seriously doubt it ever worked:
1. if ($$1 ==60)
an /if operator must not touch the operands. In recent mirc versions, the above gives an "* /if: invalid format". Not sure what it would do in old versions, but I do know it would have never worked. The correct format is of course
if ($$1 == 60)
2. if ($!server) and if (!$!server)
You probably put the ! after $ to avoid evaluation inside the alias (so that $server is evaluated when the timer fires). However, the () that surround and touch the identifier will take care of that anyway, so using ! here is wrong: when the timer fires, it still sees if ($!server), which is always true, since the string "$server" is not null. Similarly, if (!$!server) will always be false.
3. if () { ... | else if () ... }
if and elseif (or else if) should be on the same level, ie you shouldn't have elseif inside the if block. The correct format is
if () { ... } | else if () { ... }
4. Curly brackets are indeed ignored, as they are "evaluated away" inside the alias; the timer itself never gets to see them. The script would work exactly the same if you omitted all four pairs of { }. 'Same' meaning 'incorrectly', as when the curly brackets are lost, only the command before the pipe is considered to belong to the /if statement. For example, after the loss of brackets, part of the second line would be:
if (!$!server) server | keep.alive 60
Here, only /server belongs to the /if statement: /keep.alive will be executed either way (ie whether the condition is true or false).
5. if ($$1 == ...) | if ($$1 == ...)
Although this doesn't cause an error here, the second /if should be /elseif. In this case, /elseif would merely avoid unnecessary processing (the comparison would only be performed once) but in other cases, it would make a bigger difference, ie the code would actually do a different thing.