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Once you have logged into Facebook on your simulated device, go to the very right hand side of the top menu and select Places.
Provided that you are using the latest version of the software, Places should be enabled. If not, go to the Options in Facebook for BlackBerry and select Check for Upgrade and it should start downloading automatically.
Please read the disclaimer! You can find this and more, including the explanation - as well as the pro's and con's of using spoofed geolocation on the ZDNet iGeneration blog.