Are you seeing the "Recent Blog" part of it? Or just nothing at all?
You can place it anywhere you want in the postbit, but I think the place that makes sense the most is right around where the username is.
One thing to keep in mind is the part that says
PHP Code:
<if condition="$post['field5']">
field5 was in my own personal setup. It could be that your new field has a different number - field6, field7, etc.