I am far from being an expert and as such I will be pleased to receive feedback. Even it is "hey JP your code is rubishh" ... but with suggestions.
But it is also some simple code some may find useful and easy to read.
You must place the .mvba in configured folder such as workset or workspace Standards/Macros folder.You must read the txt file.
You must autoload mvba at startup by running once VBA Manager (search vba in the ribbon) and check the boxes.
Minor update of V2 to fix issue with Item Type library not having any instance in current dgn.Also added constants for default scale value.
Here is the zip containing VBA and dgnlib with the Item Type: 5265.MyTools_V2.zip