WarR:
I think your problem is when the .srt format subtitle will not load on BSPlayer. you can check this by looking at the info near the slide bar (for the video tracking) it should tell you whether the subtitle has been loaded by BSPlayer or not.
If not loaded that means that the srt file is either corrupt or incorrectly composed. You can check this by trying to open the .srt file in SubSync, a program that allows you to sync the sub with time index, but this program will tell immidiately if the srt is corrupt or incorrect.
If it is incorrectly made, then what you can do with that srt is to convert the srt into .smi (or other subtitle format) and back into .srt format by using various converters you can find in the net. I used DVlad's srt to smi converter to convert one way
http://users.pandora.be/vlad/subsync/dvlad.htm
and then convert it back using program called SMI 2 SRT v 1.02.
http://shounen.ru/soft/smi2srt/
After converting from srt (that won't be loaded in BSPlayer) to smi and then from smi to srt, the converters should automatically correct the problem and you should be able to watch the movie with new srt.
Hope this helps