First off, long time no see, you probably don't remember me but I tried teaching you the basics of sockets and such. Welcome to the boards. That aside, I haven't tested your script as you said it's restricted.
Looking through your code though, here in particular:
if ( CurVer1.3 iswm %gzpupdate ) {
echo -a A new version is available! Download it at http://www.gamerzplanet.net/forums/staff/201457-gamerzplanet-channel-management-script.html ASAP!
}
else {
echo -a No new version of the script is available.
sockclose gzpupdate
halt
}
You are missing a bracket inbetween the echo command and else statement.
As I said I can't test it but that may stop the continuous looping.
Edit: I should have read Riamus2's post carefully he mentioned about the brackets, I started reading from the code tags part I guess. Sorry Riamus2!