Is it possible that there's an misspelled variable in the v3.1 template code?
Here's a dump of the index_newsbits template:
Code:
<table cellpadding="0" cellspacing="0" border="0" bgcolor="#0A293E" width="100%"><tr><td>
<table cellpadding="4" cellspacing="1" border="0" width="100%">
<tr id="cat"><td bgcolor="#1D6AA0">$newsicon <normalfont color="#000000"><b>
$news[title]</b></normalfont></td></tr>
<tr><td bgcolor="#1C5780">
<table width="100%"><tr><td align="left"><smallfont>- by <a href="$bburl/member.php?s=$session[sessionhash]&action=getinfo&userid=$news[postuserid]">$news[postusername]</a> on $dateposted</smallfont></td>$newsrating</tr></table></td></tr>
<tr><td bgcolor="#13486D">$news[avatar]<normalfont>$news[message]<br>$signature</normalfont></td></tr>
<tr bgcolor="#1C5780"><td>
<table width="100%" cellpadding="0" cellspacing="0"><td align="left"><smallfont>$adminopts </smallfont></td><td align="right"><nobr><smallfont> $news[views] Views, $newscomments</smallfont></nobr></td>$sendtofriend $printable</tr></table></td></tr></table></td></tr></table><p>
I personally think it's a variable that's not getting called from your template changes in your last version upgrade.