Re: How to make a private community?
I haven’t tried my mod site-wide on WPMU because it was only needed on the BP community-side for a site I was working on. If you’re not using WPMU, you should be okay.
Don’t activate the plugin site-wide if you want your user blogs made public. In this case, only activate the plugin on the blog where BP is activated.
Re: invites. What are you using for that? The modified plugin doesn’t block the register or activation pages, so if your invites plugin hooks into the register page, you should be fine.