3.2 Problem – Site Dead using Arras Theme

I upgraded this morning to 3.2 and am using the Arras theme. After upgrading, I left and came back to do some work on the site and now have the following error being shown when I try to login or when I go to my site:

Fatal error: Call to undefined method Arras_Widget_Tag_Cloud::WP_Widget_Tag_Cloud() in /home/dadofdivas/dadofdivas.com/wp-content/themes/arras/library/widgets.php on line 404

I need to be able to get in and save what I can or downgrade to a lower version of wordpress, can you assist?