GridMarket Setup Error: Invalid Argument

I have a clean install of Wordpress - updated to the latest version with a clean install of GridMarket and FrameMarket found on http://marine-ac.com/marketplace.

The issue I am having is an error in the theme setup for GridMarket:

I get the following error:
"Warning: Invalid argument supplied for foreach() in /home/marineac/public_html/marketplace/wp-content/themes/framemarket/options/options-setup.php on line 13"

The install is Mulltisite
FrameMaket is the latest download available: 16162_frame-market-theme-1.4.zip
There are no plugins installed yet
The theme displays with this error in the header:
Warning: call_user_func_array() [function.call-user-func-array]: First argument is expected to be a valid callback, 'framemarket_themeoptions_output' was given in /home/marineac/public_html/marketplace/wp-includes/plugin.php on line 405

In addition in the theme setup the options for changing the style base is blank in the dropdown menu.

Any quick tips to get this resolved?