I have this plugin installed with buddypress...
It worked fine with BP-corporate before the upgrade of 1.2. With previous buddypress versions you had to manually move a folder to the themes folder for it to work, with the new version you just need to activate the plugin.
There is suppose to be a link next to the "Links Directory" title which does not appear.
I just swapped to the default theme on a test server and it displays fine.