This is a vB4 feature that's missing in vB5. Well, not anymore as I created it! 
Features:
Version History:
v1.7
v1.6
v1.5
v1.4
v1.3
v1.2
v1.1
v1.0
Limitations:
Demo:
See "Recent Visitors" module on homepage.
Instructions:
Please refer to the installation document included in the file.
Price: $10
Payment Accepted: PayPal or Debit/Credit Card
Screenshots:

Features:
- Displays the visitors in the last hours you configured. Defaults to last 24 hours.
- Can display avatars instead of usernames. Displays avatars by default.
- Can display usernames using the "Username HTML Markup" option for usergroups in AdminCP. (This is new in v1.1)
- Can exclude banned users. (This is new in v1.7)
- Packaged as a Module. So you just drag and drop it onto the page using Sitebuilder.
- Does not require editing existing templates.
Version History:
v1.7
- Added options to exclude banned users from the list. Thanks to voyger for this feature request.
v1.6
- Added the new Module Permissions feature that was recently added by vBulletin to the modules.
v1.5
- Fixed sorting issue on list of users.
v1.4
- Fixed blank module issue due to a typo in the module template.
v1.3
- Fixed blank module issue due to an incorrect code in the module template.
v1.2
- Fixed compatibility with vB 5.2.6. There was a breaking change introduced by vBulletin in the User API that prevented this module to work in vB 5.2.6.
v1.1
- Added new feature to allow the usergroup's "Username HTML Markup" options to be applied to the username if "Display Avatars" option in the module is set to No. This means if you add HTML in the usernames of a usergroup (e.g. change color or font), then this will be applied in the module.
v1.0
- Initial version
Limitations:
- Does not display last activity date. I feel this is too much information.
- Does not exclude invisible users.
Demo:
See "Recent Visitors" module on homepage.
Instructions:
Please refer to the installation document included in the file.
Price: $10
Payment Accepted: PayPal or Debit/Credit Card



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Screenshots:
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