[Sparkz]

Quick and dirty:

in index.php find

PHP Code:

        if ( !isset($forum['moderators']) ) {
          $forum['moderators'] = ' ';
        } 


replace this with

PHP Code:

        if ( !isset($forum['moderators']) ) {
          $forum['moderators'] = '';
        } else {
             $forum['moderators'] = '<b>Moderated by:</b> ' . $forum['moderators'];
        } 


Keep forumhome_moderators as the original, and add $forum[moderators] where previously suggested.