No. Look down further and you'll see something like:
echo 'Country: '.$r['user_country'].'<br>'
That's where you need to edit...
#-----[ OPEN ]---------------------------------------------
#
viewtopic.php
#
#-----[ FIND ]----------------------------------------------
#
$poster_country = ( $postrow[$i]['user_country'] && $postrow[$i]['user_id'] != ANONYMOUS ) ? $postrow[$i]['user_country'] . "<br /> <img SRC=" . $phpbb_root_path . "images/flags/" . $postrow[$i]['user_country'] . ".gif align=ABSMIDDLE> " : "Íå âûáðàíà";
#
#-----[ IN LINE FIND ]------------------------------------
#
$postrow[$i]['user_country']
#
#-----[ REPLACE WITH ]---------------------------------
#
ucfirst($postrow[$i]['user_country'])
#
#-----[ END ]-----------------------------------------------
#
You need to make that change to possibly a few other spots, but just follow the install log, and you'll see where it adds the flag (or country name) and that's where you edit.
Or you can edit functions.php and where it does the initial insert of the country name, just uppercase the first letter (using ucfirst()) before the insert.