You shouldn't need to do any template changes, revert the change and look for this in global.php
Code:
$show['admincplink'] = iif($permissions['adminpermissions'] & $vbulletin->bf_ugp_adminpermissions['cancontrolpanel'], true, false);
// This generates an extra query for non-admins/supermods on many pages so we have chosen to only display it to supermods & admins
// $show['modcplink'] = iif(can_moderate(), true, false);
$show['modcplink'] = iif ($permissions['adminpermissions'] & $vbulletin->bf_ugp_adminpermissions['cancontrolpanel'] OR $permissions['adminpermissions'] & $vbulletin->bf_ugp_adminpermissions['ismoderator'], true, false);
Uncomment the bold line, and comment out the line below it.
This looks like it would work, but I cannot get it to work. Best of luck to you guys though.