You need to go in your usercp_dropdown_shell template, and search for this code:
Code:
<!-- New UserCp Dropdown Menu POPUPs -->
<div class="vbmenu_popup" id="yourprofile_menu" style="display:none">
<table cellpadding="4" cellspacing="1" border="0">
<tr>
<td class="thead"><a class="smallfont" href="member.php?$session[sessionurl]u=$bbuserinfo[userid]">$vbphrase[your_profile]</a></td>
</tr>
And add below:
Code:
<tr>
<td class="vbmenu_option" title="nohilite">
<a href="profile.php?$session[sessionurl]do=privacy">Profile Privacy</a>
</td>
</tr>