Since maclone helped me sort out some misstakes and stupid assumptions from my side, I deleted my old tutorial on the spices.net obfuscator, which we can conclude sucks.
Maybe this thread can transform into a discussion about obfuscating/dissassembling vb.net programs in general?
I can recommend the Reflector dissassembler, a small program that disassembles most programs (at least most programs people post on youtube/forums used for phishing).
A interesting detail is that I dissassembled TubeIncreaser with Reflector!