Same thing, another dumb mistake.

app/client/templates/communityStation.html

@@ -205,7 +205,7 @@
                 <select id="edit_room_privacy">
                     <option value="public" {{getSelected 'public' room.privacy}}>Public</option>
                     <option value="unlisted" {{getSelected 'unlisted' room.privacy}}>Unlisted</option>
-                    <option value="privacy" {{getSelected 'privacy' room.privacy}}>Private</option>
+                    <option value="private" {{getSelected 'private' room.privacy}}>Private</option>
                 </select>
                 <label>Room Privacy</label>
             </div>