As I posted, blog_postbit_entries_link is a template. You would find it in Styles & Templates > Style Manager . But, you don't need to edit that template, I was simply telling you that that template is what controls the link and that the phrase listed in there is called blog_entries, so that is the phrase you need to edit.
If you want to completely disable the Blog product, you would do it in Plugins & Products > Manage Products > vBulletin Blog > Disable (do NOT click Uninstall!).
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