Hmmmm...I cannot seem to figure out what in the world I am not doing right!

Could it be a version thing? I'm running 3.6.8 PL2. Here is the code I pasted in (with a snippet of some of the code before and after). I don't know that it will really help for you to see it, because I pasted it in right where you said to, to my knowledge. But, maybe you'll catch something I missed.
PHP Code:
<tr>
<td class="thead" style="font-weight:normal"><strong>$vbphrase[calendar]</strong>: $calendarinfo[title]</td>
</tr>
<tr>
<td class="alt1">
<if condition="$show['postedby'] OR $show['subscribed']">
<table cellpadding="0" cellspacing="0" border="0" width="100%">
<tr valign="bottom">
<td align="$stylevar[left]"><if condition="$show['postedby']"><a class="bigusername" href="member.php?$session[sessionurl]u=$eventinfo[userid]">$eventinfo[musername]</a><div class="smallfont">$eventbituser[field19] $eventbituser[field20]</div><else /> </if></td>