Sylvester, that simply isn't correct with YaBBSE 1.4.0. Now perhaps you are one of those people with the phantom 1.4.1 copies floating around, which I have seen reference to ( for example, this reference by Nemesis, aparently one of the YaBB team:
http://www.yabb.info/community/index.php?board=158;action=display;threadid=10228;start=0 ), but are not available for download on the download page (
http://www.yabb.info/download.php ).

I have triple-checked the matter both by actually trying to do it (I have made an announcement forum and promoted a user to be the moderator of the forum, and still he cannot post -- Only
Global Moderators can post), and looking at the source code itself (which I will include below as evidence). It's not possible in YaBBSE 1.4.0 to have a normal moderator start a new thread in an announcements forum. Period. Examine the following code sniplets:
In the mod Nemesis wrote, he does stuff like this:
<edit file>
Sources/MessageIndex.php
</edit file>
<search for>
if (!$isAnnouncement || $settings[7]=='Administrator' || $settings[7]=='Global Moderator' || in_array($username,$moderators))
print "$menusep<a href=\"$cgi;action=post;title=" . URLdecode($txt[464]) . "\">$img[newthread]</a>$newPollIcon ";
</search for>
<replace>
if (!$isAnnouncement || $settings[7]=='Administrator' || $settings[7]=='Reporter' ||$settings[7]=='Global Moderator' || in_array($username,$moderators))
print "$menusep<a href=\"$cgi;action=post;title=" . URLdecode($txt[464]) . "\">$img[newthread]</a>$newPollIcon ";
</replace>
However, pay close attention. He said he wrote this mod for 1.4.1, and was curious if it would work with 1.4.0. Well it turns out that this key line here:
if (!$isAnnouncement || $settings[7]=='Administrator' || $settings[7]=='Global Moderator' || in_array($username,$moderators))
... in his <search for> string references a line of code, is
significantly different in 1.4.0. Lucky for me, it's also the clue I needed to modify the 1.4.0 code so that moderators of announcements forums
could post new threads. This is the 1.4.0 code:
if (!$isAnnouncement || $settings[7]=='Administrator' || $settings[7]=='Global Moderator')
Notice how it's missing this key part: || in_array($username,$moderators))
Hmmmm? How then could a normal moderator post a new thread in an announcement forum? The code very clearly says that only if you are an Administrator or a Global Administrator can you post a thread. End of line.
I apologize for vicitmizing you with this rant, but it's less about you, and more about the fact that I just did an exaustive search of this forum on the matter and found
many people here to hand out the same piece of dis-information to various peoples who were perplexed on the issue. I just wanted to set the record straight with a correct post, and felt it needed to be thurough as to cut off any bickering over the matter. I'm not tying to offend you in any manner.
The source has spoken! 
P.S. If anyone else needs clues on how to make such functionality work, all you have to do is examine all the code search and replace lines in the module written by Nemesis. It answers all the questions.
