BuddyPress.org

From what I can gather this thread is about a configuration problem. This is how to install the two themes.

1) From the distribution zip or trunk move the folder /buddypress-theme/buddypress-home to the folder /wp-content/themes. You wind up with the structure /wp-content/themes/buddypress-home

2) Move the folder /buddypress-theme/member-themes to the folder /wp-content. Ending up with the structure /wp-content/member-themes.

If you want to use the bp home theme then you need to activate that in wpmu backend. You will never see the member theme as a possible candidate to activate.