according to the system display it says VT-x /AMD-V enabled I also know its enabled in my BIOS whowever when I type egrep '(vmx|svm)' --color=always /proc/cpuinfo and hit the return nothing comes back a whole of entries is supposed to come?
That CPU feature is not visible inside a VM, it's stripped. The OS doesn't need it, but the hypervisor running the OS does. In this case, VB needs VT-x for certain features, like 64 bit Guests and SMP, the Guest can do without and there is no benefit to have it there.
His command searches if 'vmx' or 'svm' is in /proc/cpuinfo and outputs it, else show nothing. Since it doesn't show any output, the option isn't available. Makes sense, as stated above.