[Dan_UPC]

Ok,

After a little more thought, I figured out how to do it ...

In admin/functions.php,

find:

PHP Code:

// do ip addresses 


below it,

add:

PHP Code:

if ($bbuserinfo['userid']==0) {
  $logip=1;
}

if (!ismoderator()) {
  $postip=explode(".",$post[ip]);
  $postip[3]=xxx;
  $post[ip]=implode(".",$postip);
} 


The result is:
Eg.
IP Address = 123.123.123.123
moderators / admins will see 123.123.123.123
all other logged on members will see 123.123.123.xxx
anyone who is not registered or not logged on will see IP Logged.