Clues:
* XOOPS 2.0.9.2 fresh install
* Overwrite news 1.1 module with news 1.2.1
* Updated News 1.2.1 module via Admin > modules
* Run http://www.warningphp.com/modules/news/admin/update.php as written in update.txt file [i'm using default template set]
* storyform.inc.php replaced with the one which can be found here [it's located at modules > news > include]
* Updated the News module again.
* A test article created and surprized because text editors buttons [font button, color button, image manager button etc.] has taken its place among the legends :)
* Turned PHP debug on
* Error message found : Warning [PHP]: date(): Windows does not support dates prior to midnight (00:00:00), January 1, 1970 in file D:\www\valinor-uo\include\functions.php line 199

What did i do wrong?

Thanks.