Alright, well I thought I would provide the answer here as to how to do that
If anyone here would like to change the size of the tagboard go to:
"site pages" then find the line that says:
<?if($CHAT_BOX$)?><div class="box"><h3>Shoutbox</h3><div class="boxContent" style="width:360px;">$CHAT_BOX$</div></div><?endif?>
and change whats marked with red to a different value. the original value is somethn like 195 or so. This will change the outside column size of the chat box. Now you need to change the inside size of the chatbox table. Go to:
<div class="cBlock$PARITY$" style="padding: 0pt 4px 5px 2px; margin-bottom: 3px;width: 330px;">
and add what I have highlighted in red. This will now change the size of the inside chatbox. If you have any further queries please post beneath here =]. it took me about 2 or 3 hours to find out because I had to look at the path from the site, and looking at several different paths because the site is put together strangely.