I would check with your host if they have included the InnoDb storage engine as that is required for mojoPortal. The initial check that mojoPortal does to test the MySql db is to create and drop a table, but this is using the MyIsam storage engine, when it runs the scripts its trying to create InnoDb tables.
Thats why it says "database permissions are sufficient to alter schema". I'm going to change the test code in the next release to use InnoDb so it will match the actual tables. MyIsam is the default storage engine in MySql but it does not support transactions so we have always used InnoDb.
A while back when Oracle bought InnoDb it may have spooked MySql and maybe they don't include InnoDB in all packages of MySql, of course going forward since Oracle is buying Sun, it seems likely that they will include InnoDB.
Possibly this bug is related.
Thats all the info I have for you right now.
Best,
Joe