If anyone is is using White Label CMS and child themes... and having difficulty getting the custom logos to work, here's what's happening: the plugin uses template_directory for the path to custom logos. If one is using child themes, this makes the plugin look for logos in the "images" folder in the PARENT theme, and not the child theme.
Using stylesheet_directly fixes this, if you're comfortable editing plugin files. Otherwise drop your logos into the "images" folder in the PARENT theme. See this quick reference: http://codex.wordpress.org/Function_Reference/bloginfo#Parameters