First off, we have not tested it in J 1.5.x. and using CB 1.2 RC 3

But, the steps are:

1) create a field in CB | Field Management (be sure to publish the field)
2) add some data to the field from the front end or the back end (i.e. edit the user's profile)
3. in your content add

{ cbp cb_test } (without spaces before/after { }

4. login to the front end
5. display the content

cbp should replace the bot call with the content in the user's defined CB field.

You can even use it in FireBoard with bot turned on. Your favorite site is