To use this repository, simply drop dhozac-vserver.repo into /etc/yum.repos.d, and remove the enabled=0 line from it.
After installing the repository, getting a complete Linux-VServer host is as simple as
yum install linux-vserver util-vserver{,-core,-sysv,-lib,-build}

I would also suggest adding exclude=kernel to /etc/yum.repos.d/fedora-updates.repo, so new kernels from Fedora Core don't get installed and take precedence over your Linux-VServer kernels.