There is an image file called “logo.png” in the Images directory of the theme. This is the image that gets shown on the header. Looks like this file is missing… please delete the theme from your server then re-upload a fresh copy. You will most likely want to put your own logo or site name so modify the PSD file that comes with it or design your own logo and name it “logo.png”. Then place it in the “images” directory of the theme.
The shopping cart will need a bit more room so it is a good idea to add the cart widget in the “Sidebar Bottom” or “Sidebar Top” area of the widget. This way it will be able to use the full width of the sidebar.