...that is what you should be seeing indicating that the server has connected to the WPN fine and should be listing on the channel list
20:39:48 You have the latest version
that is just saying, well, that you have the lastest version (i'm sure you figured that out though)
20:39:48 Reading Peer Cache...
is where it contacts the peer cache to start with to get a list of primary users to connect to
20:39:48 Loading Config...
means it is loading the channel config
20:39:48 Config Loaded
means, well config loaded
20:39:48 Attempting IP Detection...
20:39:49 Found IP: 126.96.36.199
that is just detecting the IP Address you are hosting from, so it knows what the correct channel name should be (just used in a few places where it displays the channel name, it doesn't effect the operation of the channel if it doesn't work)
20:39:49 Server Ready
all done and the room is up
the other bits after that are just the primary connections connecting and disconnecting, as long as at least a couple of them are conected the channel listings should work fine
if people cant enter the channel then a router or firewall somewhere along the way could be configured correctly, what problem are you having exactly?