Ok, it's not too bad to get it to work. Copy the 3 folders in the zip file to the proper FSX directory, Aircraft to \SimObjects\Airplanes, Gauges to Gauges, and Effects to Effects. Then open the "panel.cfg " file under the SimObjects\Airplanes folder with Notepad and change the entry that says "SIZE_Y=3899" to "SIZE_Y=6143". There is actually 2 files called panel.cfg, I edited both.
I like the addon overall but the speeds obtained are unrealistic, (might be due to the fact that it was designed for FS2004) and the Virtual Pit is not as professional as the planes that come with FSX or Lockon for that matter. There is no glass in the Pit in FSX currently.
Cheers