jmorrow: Yeah, the theme works. I got similar php errors but only with static Pages (not Posts). If you look in the error message it will tell you the line of code where the error is happening. Whoever built the theme left in a line where the back half was still commented out (in other words you'll see something like "-->" at the end of the line). Just clean that up by removing the dashes and you should be fine. I'm going from memory of what I did a couple of weeks ago.
Also to OfficeVoodooKit... Yes, you can slow the slider down. It's not in the control panel, but poking around the code in the editor, I was able to find the timer. It's default is at like 3 seconds, which, I agree is a bit fast. I dropped it down to seven seconds.
Hope this helps. Overall I really like this theme. And if you're willing to dig under the hood you can customize it to make a great blog.