You don't need to do it that way.
Blender 2.43 has texture baking built in. Just make a material as you normally would, unwrap the object, then create a new image for the UV map in the UV image section of blender. If you don't understand what I'm talking about, then you might need to play round with blender a little more.
After you have a blank(black) image created for the UV map, go to the render panel, and beside the "Animate" tab there is one called "Baking". In that, press the texture bake button to bake the texture. If it says "no free image" or something like that when you press it, that means you didn't create a new image for the UV map.
With this built in version, it means you don't need to use a python script. Also, if you read the console window when blender starts up, it says that unless you have Python installed, some scripts might not run.
Hope that helped!!
Greenlig
Blender3D - GIMP - WINXP - DBPro