[cyberchief]

I was having issues on the placement as well. I added the above mod code right below:

<li class="welcomelink">{vb:rawphrase welcome_x_link_y, {vb:raw bbuserinfo.username}, {vb:link member, {vb:raw bbuserinfo}}}</li>
				<vb:if condition="$vboptions['enablefacebookconnect']">
					{vb:raw facebook_header}
				</vb:if>

This puts it right next to the notification link. At least in 4.0.8...