Weird.. Checked with the Developer's Toolkit... No other defines use that same constant.. I created a new define as you suggested, and now "FOOTER_PAYMENTPOLICY" shows instead of "Payment Policy"..
Diva, what kind of debugging have you done for this? What do you get if you add in footer_menu_defines.php something like
PHP Code:
echo ' Payment Policy text: ' . FOOTER_PAYMENTPOLICY; 
or
PHP Code:
echo ' FPP ' . (defined(FOOTER_PAYMENTPOLICY)? '': ' not ') . ' defined. ';