How to use Post Formats in SimpleMarket?

I'm using SimpleMarket theme, and am in the post edit panel. I can select the type of post format I want to use, BUT nothing seems to happen after that.

For instance, in other themes I've tried, not only is there a place to select the post format, but there is a place in the edit panel to enter a link, quote, image, video, etc. Combined with the theme's post format styling, you see a particular format when the post is published.

SimpleMarket claims to have full support for post formats, but it doesn't seem to be complete.

Am I missing something?

Thanks for any advice.