No, shouldn't do. Follow these instructions and see how you go:

1. At lilypie.com copy the code in the second box... not HTML but the box entitled "PseudoHTML, UBBCode? or BBCode"
2. Back in the Belly Belly site click on "User Profile" in top left corner of screen
3. half way down the page on the left hand side in "Settings and Options" is an "Edit Signature" option, click that
4. Paste code into the signature section
5. Click on "Preview Signature" down the bottom of that page

Let me know how that goes!!