'Edit folders' gone with upgrade?

[Impulse]

I've recently upgraded the board to vb3.0.3 but now the link of 'edit folders' under your usercp > private messages (4th option in the row) has gone.

I've checked the templates of the default style and according to those templates it still should be there.

This should be the part right?

<td class="thead" nowrap="nowrap">$vbphrase[edit_private_message_folders]</td>
					</tr>
					$cpnav[pmfolders]
					</table>
				</div>
			</if>
		</td>
	</tr>
	<tr>
		<td class="$navclass[pm_messagelist]" nowrap="nowrap"><a class="smallfont" href="private.php?$session[sessionurl]">$vbphrase[list_messages]</a></td>
	</tr>
	<tr>
		<td class="$navclass[pm_newpm]" nowrap="nowrap"><a class="smallfont" href="private.php?$session[sessionurl]do=newpm">$vbphrase[send_new_message]</a></td>
	</tr>
	<if condition="$show['pmtracklink']">
		<tr>
			<td class="$navclass[pm_trackpm]" nowrap="nowrap"><a class="smallfont" href="private.php?$session[sessionurl]do=trackpm">$vbphrase[track_messages]</a></td>
		</tr>
	</if>
	<tr>
		<td class="$navclass[pm_editfolders]" nowrap="nowrap"><a class="smallfont" href="private.php?$session[sessionurl]do=editfolders">$vbphrase[edit_private_message_folders]</a></td>
	</tr>
</if>