Yes that IC will work. Four 1uF (SMD 1206 size) are used, it's up to you. Again make sure the parts work below 0C. Does your replacement voltage regulator work below 0C? I will send you a couple MAX232EPE+ and a replacement LM7805 in the mail.
Edit: Also when the boxed version LCDBC communicates OBD2/MUT it does not use the MAX232 chip. The jumpers select whether to use MAX232 for OBD1 communication, or use the OBD2/MUT IC.






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