vbb v4.2 "user name" text in login box does not dissapear
 

If you want to remove this text on 4.2.X edit in your header.php via style manager.

Find this and remove only what I highlighted in bold:

<li class="inputPad"><input type="text" class="loginInput" name="vb_login_username" id="navbar_username" size="10" accesskey="u" tabindex="101" value="<vb:if condition="$username">{vb:raw username}<vb:else />{vb:rawphrase username}</vb:if>" /><input type="text" class="textbox default-value" tabindex="102" name="vb_login_password_hint" id="navbar_password_hint" size="10" value="{vb:rawphrase password}" style="display:none;" /></li>