I had to modify the template this way:
Code:
<if condition="$bbuserinfo[field7] == On"><a href="$bbuserinfo[field8]"><img src="$stylevar[imgdir_misc]/panic.gif" border="0" alt="Boss Key" /></a></if>
In order to get it to work. There were a bunch of { in there messing things up and some variables it wouldn't recognize. After using the above lines I was able to make the mod work.
Edit:
If you do use this instead, field7 should be whatever field you wrote down for step 2, field8 for step 3...
You know...
It works great with this instead of the other...