404 Error Creating BuddyPress Groups w/Membership

I seem to be having an issue creating groups on a fresh Membership install...

WordPress 3.2.1
BuddyPress 1.5
Membership 2.1

I've tried URL Groups, but apparently there is something that I'm missing...
I can reach the Groups Page, see the Create Group link, but get a 404 when I click it.

Could this be a theme issue?
(I'm using the Canvas for BuddyPress Child theme from Woo.)

u: scootester
p: scootester