[ChaosBurnt]

I found the problem, the instructions need updating mate.
where you have:

<!-- panic button for vbulletin blog by jdsinclair -->
<if condition="$bbuserinfo[field5] == On"><a href="$bbuserinfo[field6]"><img src="$stylevar[imgdir_misc]/blog/blog_panic.gif" border="0" alt="Boss Key" class="inlineimg" /></a></if>
<!-- end of panic button for vbulletin blog -->

should be:

<!-- panic button for vbulletin blog by jdsinclair -->
<iif condition="$bbuserinfo[field5] == On"><a href="$bbuserinfo[field6]"><img src="$stylevar[imgdir_misc]/blog/blog_panic.gif" border="0" alt="Boss Key" class="inlineimg" /></a></if>
<!-- end of panic button for vbulletin blog -->

This is so for all of the blog template edits ;-)