I have not upgraded to BP 1.5, but I did upgrade to the new BP-Scholar theme.
The bottom portions of the BP members and blog pages are grey w/o content.
The BuddyBar is gone.
When I logout the login/PW/remember me check, are all on seperate lines when they should be all in a row.
I went back to the Parent Scholar Theme to verify that the problem is there too. Then I went to the BP default theme and the problem disappears.
I suspect that I need to upgrade to BP 1.5 to make this work, but I figure I should ask first.