BuddyPress.org

No problem, glad to help.

+1 same here
wp3.0 – mutisite enabled – no plugins (except buddypress 1.2.5) – Buddypress default theme

edit: I have several installs on same host running similar setup except using bp 1.2.4 with no problems (well, not this one anyways)

Edit the language file.
Just edit/add an entry for the words or phases you want to replace, and everywhere within the site those words will be automagically “translated” to whatever you want. I’ve used this method to “translate” the words “blog” and “blogs” to “site” and “sites”. Works like a charm.