After hours of trying to figure out the problem of why Google DFP ads were not delivering last night, I discovered that the issue was indeed user (myself) error.
I was testing Google DFP ads with only 1 test advertiser and had that advertiser set to only deliver one ad at a time. I adjusted the delivery settings to deliver "one or more" then I started getting multiple ad placements in my widgets. To fully test it I'll need to create multiple advertisers to fully populate my ad spaces.
I have apologized to the theme creator for posting a message while waiting for a response. This theme is good... as long as you're familiar with the plugins and ad servers you want to use.