I'll tell you what, I struggled with this for days.On a fresh install, with no additional components/modules/bots installed, I just could not get into the Configuration page. It would just sit there, to the point that I eventually had to close down my browser and go back in just to be able to access my admin at all.
So, I installed CB on my local install (which I had done just to fool around before my host was set up). Tried the config page, and got an error saying: Parse error: syntax error, unexpected $end in C:\wamp\www\Joomla\administrator\components\com_comprofiler\
admin.comprofiler.html.php on line 2769
So I opened up the admin.comprofiler.html.php file, changed the last code block from <? to <?PHP which fixed it. Great, I thought, I've found the source of my problem; copied the modified file over to my live server, and tried again. No luck - still couldn't get into my CB config from my live admin.
So, I hunted down the file that gets changed by the configuration panel. This was no easy task, especially considering that I am a little bit dumb when it comes to websites in general. But, my searching (which consisted of opening one file after another) rewarded me with: ue_config.php in /administrator/components/comprofiler
This contains all the flags that get set in that admin panel. At first, I was doing things the hard way - searching out the entries in the file, changing the flag to what I wanted (there was one, solitary setting I wanted to change: enable connections) and saving the file, then copying it over to the live site. Then I realized how stupid that was; went into my local installation, to the configuration panel for CB, made the changes I wanted there, then copied the local copy of ue_config.php to my live site, and voila - everything was set the way I wanted to.
So, it's a pain in the patoot to not be able to access my config panel from my live administration panel, but, I found a way around it, which is great, because I *really, really* wanted to be able to use CB. So much so that I'm sticking with joomlaboard instead of switching to the less compatible SMF forums.
I did so much searching on this, and came up empty handed. I really hope this helps someone else with the same problem.