No, I had problems too.
The readme assumes (as always) that you are starting a new project. Upgrading an existing one has always been troublesome. Since my project has been running in production since the earliest days of CB it is now a real mongrel mix of changes introduced through various iterations of the platform. It is something of a miracle it continues to work! I should probably start a new project and port all the code across to a new directory structure someday.
However, in trying to get Elixir to work I DID start a new project, as suggested in the readme, but I also could not get it to work.