Yep, the ad script used is an open source program called Phpadsnew: http://www.phpadsnew.com
Lots of features, though can be overkill if all you need is something basic.
Regarding the ad itself (ie: ivaluehost), I can understand some of the reaction to its size, though it's basically what advertisers are demanding due to the poor visibility on forum type pages. CF is probably among the very last to yield to this type of spec amongst other web development forums. In any event, things are still transitional at this point just like the former Google ads, and may change.