Full Board URL: http://forum.sioncraft.net or http://www.sioncraft.net/xmbforum/
XMB Version: 1.9.11

The forum comes with preset ranks, such as Moderator, Super Moderator, Administrator and Super Administrator, but, I didn't want to use Super Moderator, so I made a different rank called Senior Moderator. But when I go to someone's profile to make them the Senior Moderator rank, I can't. I also made a Premium Member rank, but yet again, it doesn't show up when I click on the drop down while editing a member's profile. Does anyone have an idea as to why this is happening?

Yes. I think you are mixing up a few things

"Status" is not the same as "Rank".

A "Rank" is earned by the amount of posts.
A "Status" is given to someone.


If you only wanted to change the name of the Status ... I guess using the "Translations" option in the "Administration Panel" is the best way to go.
Just change the name of the Status.

"User Ranks" can not be selected when editing a users profile.
"User Ranks" (and the little icons next to their name) are given to people with the Status "Member" ... Depending on the amount of posts.

If you want to create a new Status ... I guess this hack would apply.
http://www.xmbforum2.com/hacks/additional-member-status-1.0....

But how it's written now (simple copy/paste), you can only use it once.