Okay, so it looks like this theme's code is horribly outdated. It throws countless php notices (try setting wp_debug to true in wp-config.php), and because of the notices, "headers already sent" messages should come up any time you try to save settings on any admin page or plugin. I can't even do anything with the theme options page, because it isn't setting defaults. I'm using wordpress 3.5 beta 2, so there may be even more issues with compatibility there.
The floating frame does show up for me, and I can change the settings (although after submitting I need to use the browser's back button, as I get a php error page, but the settings are saved).
Are these the same issues you're having? If so, most of your plugins and the admin interface in general wouldn't work; but the problems are ultimately with the theme, and the theme developer would need to address them.
If that's not the issue, and the frame just isn't showing up, you could try playing with the custom vertical positioning (try something small), or the custom z-index (something large) advanced appearance options. If none of that fixes it, could you provide any other information about the problem?