How can I locate the "Raw" and edit it?
 

I'm looking to really customize the theme and in order to do this I need too locate some of the vb:raws and edit them...

For example, where is {vb:raw childforumbits} for me to edit?

Did you try a search in templates?

Yes I did, was not found... well I searched in languages and phrases.

I need to edit vb:raw childforumbits to take some of the stuff out of it.

Go to ACP -->Settings --> Options --> General Settings, find the setting, Add Template Name in HTML Comments and set it to Yes . Then go back to your page and view the source code and you will see the name of the template called around your part of the code you want to change.

Did a quick check for you since I happen to be on my development system.

See the following templates:
forumhome_forumbit_level1_post.php
forumhome_forumbit_level1_nopost.php
forumhome_forumbit_level2_post.php
forumhome_forumbit_level2_nopost.php