Code:
<div id="navigation">
<ul>
<li><a href="http://racersweb.com/index.php">Home</a></li>
<if condition="$show['member']">
<li><a href="http://racersweb.com/forums/usercp.php$session[sessionurl_q]">$vbphrase[user_cp]</a></li>
</if>
<if condition="$show['registerbutton']">
<li><a href="http://racersweb.com/forums/register.php$session[sessionurl_q]" rel="nofollow">$vbphrase[register]</a></li>
</if>
<li><a href="http://racersweb.com/forums/faq.php$session[sessionurl_q]" accesskey="5">$vbphrase[faq]</a></li>
<li><a href="http://racersweb.com/forums/memberlist.php$session[sessionurl_q]">$vbphrase[members_list]</a></li>
<li><a href="http://racersweb.com/forums/calendar.php$session[sessionurl_q]">$vbphrase[calendar]</a></li>
<LI><A HREF="HTTP://SOMECOOLSITE.COM/">SOME COOL WORDS</A></LI><if condition="$show['popups']">
<if condition="$show['searchbuttons']">
<if condition="$show['member']">
<li><a href="http://racersweb.com/forums/search.php?$session[sessionurl]do=getnew" accesskey="2">$vbphrase[new_posts_nav]</a></li>
<else />
take the CAPS LOCK bold red part from above and just replace the SOMECOOLSITE and SOME COOL WORDS parts to what you need.