Just felt the need to throw my 2 cents in. I for one would enjoy the opportunity to dig in to the source as a reason to transition from VB6 to .NET. I'm still able to do everything I *need* to do in VB6. Something cool like customizing Xlobby for my needs would be a great excuse to 'upgrade' my programming skills.
On the other side, I can appreciate why Steven would be hesitant to release the code. It's like giving up a child.
It's obviously meeting the needs of many users. End of the day, Xlobby is what it is; a very cool example of what can be done.