No, but would you want to "hack" with mIRC 4.7 when you could use mIRC 6.1?
The same applies N years from now when we're toasting bread and guiding missiles with mIRC 11.02... who would want to go back? The idea is, you have to start somewhere. At least all versions from 6.1 and up will be "safe".
Admittidly though, I'm not a great fan of shotty integrity checking like that which Khaled used. I both appreciate why he added it and that people should stop ripping off his work... but I'm also a believer that a person should have complete and unrestricted control over the programs they run on their machine.
I would never own a car that I could not modify to my liking, though I would never remove the emblum from the fender either. mIRC shouldn't be any different, IMHO.
On the other hand, I have never modified mIRC either... but then again, I have no trouble reading English and don't have any desire to translate it.