I know this is an old thread, but just in case someone is still looking for an answer, this worked for me. I converted the Projects Web Database.
The process is as follows:
Create a blank "client" accdb database.
Import all web tables, client forms, client reports from the template web database into the blank client accdb database.
Close the client database and open the template web database.
(Now, you must individually create a client object from each web object. This can be a bit tedious.)
Highlight the web object (a web form, for example) that you want to create a corresponding client object. Click the File Tab, then Save & Publish, then Save Object As, and finally click the Save As Client Object button. Give the Client Object a different name than the web object (add Client to the end of the name, for example).
You will need to repeat these steps for each web query, web form, web report, and web macro in the template web database.
Once every web object has a corresponding client object in the template web database, open up the "client" database and import all client objects that you just created. Rename the objects to their original names (remove the word "client" if you took my suggestion above).
Now you should have a working template database that you can change to you liking.