As Requested here by nzm.

What does it do?
This is a very simple Phrase edit. It simply changes the
Welcome, Deaths.
You last visited: Yesterday at 04:04 PM
Private Messages: Unread 0, Total 79.

To

What's going on, Deaths.
You last visited: Yesterday at 04:04 PM
Private Messages: Unread 0, Total 79.

Ofcourse you can change What's going on, to anything you want.

Anyway, to the edits:

Open up your Search in Phrases menu (Admincp -> Languages & Phrases -> Search in Phrases)

In the "Search for Text" input box, enter:
and choose "Phrase Variable Name Only"

Press find.

Click the edit button next to:
In the translation box, enter:

NOTE: You can change the What's going on, to anything you want, aslong as the {1} is there! That's the variable for the username ;)

Click Save. You're done!

If you have multiple language packs you'll have to add it to all the languages.

And remember, the Install Button is your friend!