You put it to far up it needs to be above
Code:
<vb:else />
<span class="username guest">{vb:raw post.musername}</span>
So it looks like
Code:
<vb:if condition="$post['field5']">
<font color="red" size="4"><B>{vb:rawphrase field5}[{vb:raw post.field5}]</B></font></vb:if>
<vb:else />
<span class="username guest">{vb:raw post.musername}</span>
also you said you used profile field 5 but in that ss you have it as 4