If you did not have errors suppressed, or in an error log, you would probably see something like "class vw_CP_BBCode_Controller not found". This is due to a file being missing from the lite package.
This will be fixed by including the file in the package. When it is published, updating to the new package should resolve the issue. In the mean time, you will need to disable VaultWiki whenever you wish to add a new BB-Code.