I spent several hours scouring the internet for suggestions on how to fix it and tried several things but none worked. I gave up on that theme and decided to go back to one I knew worked. I also have found that when you preview a theme and it shows nothing but a blank, white page, odds are thats what you will see if you apply the them.
I had this same issue yesterday. I modified the rows in the database table (wp_options), stylesheet and template values to any other template that I knew would work. In my case that was the abcok theme.
Good luck.
