I added this to the web.config for my community server 2007 installation.
Now, after changing the directory name the lobby avatar is a red x (bad path) and also the messenger link in the top right corner does not work anymore.
<%="<"%><%="script"%><%=" src='"%><%=ResolveUrl("~/CuteSoft_Client/CuteChat/IntegrationUtility.js.aspx")%><%="'"%><%=">"%><%="<"%><%="/script"%><%=">"%>
This was the problem for the messenger link.
<nobr><asp:Image ImageUrl="~/CuteSoft_client/CuteChat/Images/50-home.gif" align="center" runat="server" id="Image1" />
This was the problem in the Chat.aspx causing the lobby img to not show up.
There is actually many other places you will need to change hard coding.