Oh, OK - well, in the adminCP options under "Forum Listings Display Options", there's a couple of options for "Depth of Forums" displayed on the forum home and forum display pages. They default (I think) to 2 and I think you'd need at least 3 to see that subforum.
ETA: ... and I just read BirdOfPrey5's response over at vbulletin.com, I guess you can't just set those to > 2 without providing templates for the lower depths.
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