Themes Directory 'not installed'

I'm running WP 3.4.1 multisite
Buddypress 1.6.1
Buddypress Corporate theme from WPMUDev

Here's the thing(s):
Thing 1: I'm seeing a message in my Network dashboard that says 'your theme directory is empty'. I can see themes, I can activate them. Not understanding that.

Thing 2: I had two (older) copies of Corporate in my 'themes' folder plus child themes, so I deleted them and uploaded Coroporate 1.4.4. plus the child theme folder. I 'network enabled' Corporate Child and activated it on my main site. Now I can't see it in the list of themes in the Network Admin desktop. I CAN see 'Corporate' but if I try to do anything (like enable or edit) it says it 'doesn't exist'. But my site still looks fine. Huh?

I've reinstalled WP3.4.1, I've reinstalled Buddypress1.6.1 (I have a whole other issue going on with that!) and installed Corporate 1.4.4 today.

Why can't I see the child theme in the Network Admin dashboard? Why does it say that Corporate doesn't exist?