just installed WP3.3 + buddypress + buddypress Mobile and got the following problems.
1.) a blank white main page with just the "Home" and "Menu" button on the top left and right.
2.) when go to the archives or post page, the line up of text have no left and right margin (yes, the text just hit the boundary of the phone) and photo get distorted (width is longer then normal).
It seems this plugin is not so mature ... hope WP Touch will launch a buddypress version soon ...