I tried it again and it worked this time. Not sure what happened at my first attempt. Here is the section of the postbit template containing your code:
Code:
<!-- status icon and date -->
<a name="post$post[postid]"><img class="inlineimg" src="$stylevar[imgdir_statusicon]/post_$post[statusicon].gif" alt="$post[statustitle]" border="0" /></a>
<if condition="!$show['announcement']">
$post[postdate]<if condition="!$show['detailedtime']">, $post[posttime]</if>
<else />
<phrase 1="$post[startdate]" 2="$post[enddate]">$vbphrase[x_until_y]</phrase>
</if>
<!-- in reply to hack -->
<if condition="isset($post['re_postid'])">
in reply to <if condition="$post['re_userid']"><a href="member.php?userid=$post[re_userid]">$post[re_username]</a><else />$post[re_username]</if>'s <if condition="$post['re_tittype']!=0">post <if condition="$post['re_tittype']==2">starting</if></if> <a href="$post[re_url]" <if condition="!$post['re_isonpage']">target="_blank"</if>><if condition="$post['re_tittype']==0">untitled post<else />"$post[re_title]"</if></a>
</if>
<!-- / in reply to hack -->
$post[firstnewinsert]
<!-- / status icon and date -->