the code tags mess up the code, try this one:
on *:text:hi:#:{
if !%flood {
msg # hi $nick $+ !
inc -u5 %flood
}
}
the inc -u5 %flood sets %flood and unsets it after 5 seconds, the if !%flood checks that flood doesn't exist, so it will only work every time %flood unsets itself (once every 5 seconds)
