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Unless, I really misunderstand what you are saying (and that's a very distinct possibility), I think that what I've done is in fact equivalent to retyping the whole code. Please comment if you think I'm wrong
No, that sounds right. But the old app's terminology was being accessed somewhere...
At some point Stefan, I'm hoping there will be a link to disk image download with the latest application version, the read me document and a sample script that works without any editorial repairs. Without that, you'll be deluged with emails when it doesn't work for new users.
For now, the best bet is to go to post #1 and download SKProgressBar 1.0 which after unpacking is a dmg. Remove the Readme and Script files, but not the application and eject the dmg.
Then go to post #7 and download SKProgressBar 1.0.1. Now you can compile the script. In the script, you may find the word (old) in several places. Remove those and recompile. Now you're good to go.