BuddyPress.org

Please be aware that in r565+ the location of member themes has changed.

Instead of having member themes in the /wp-content/themes/ directory, they are now in /wp-content/member-themes/

If you are running an existing installation you will need to move the /wp-content/themes/buddypress-member/ to /wp-content/member-themes/buddypress-member/

In the latest revision there is a readme file explaining how you can create additional custom BuddyPress member themes.

Or you can just read it here: http://trac.buddypress.org/browser/trunk/buddypress-theme/member-themes/member-themes-readme.txt