As CB 1.4 runs fine on thousands of Joomla 1.6 sites, we would love to have been able to help you, but for that you need to use our forums and not this review system.
Joomla 1.6.2 itself had a bug which broke most extensions, and thus Joomla team released quickly a release 1.6.3 fixing that bug.
Just as a reply regarding the "lost some hours of work (to) rollback the entire site and": All our install documentations have a step number 0 which states something like:
- "As usual before installing any joomla extension, backup first".
Thus a rollback can be easily and quickly done if something in the site is non-standard and incompatible with the new extension installed.