Re: BuddyPress plugins and theme not loading
I’m sorry that your having issues getting BuddyPress up and running.
One request first: since this post is marked as resolved and is a month old, in general it is better to start a new thread as most people that can help you will often ignore posts marked resovlved, preferring to spending their time focusing on threads that still are unresolved. Please read this for more information.
Concerning your issue, this is a known bug that has been discussed here. Basically, BuddyPress 1.0.3, the next release coming very soon, will take care of this issue. So, in the meantime, you may need to stick with WPMU 2.7.1 and BP 1.0.2.
Also, before upgrading BuddyPress and WPMU, it is very important that you first deactivate all BuddyPress-dependent plugins. Then deactivate BuddyPress itself. Finally, it is recommended that you deactivate all other non-BP related sitewide plugins as well. Once finished upgrading WPMU, you then upgrade and reactivate BP. Then, you reactivate the other BP-dependent plugins.