if the theme options are not visible in the WordPress menu, then it could be also a problem with your WordPress installation. Can you see the link “WP admin -> Appearance -> Edit”? And “WP admin -> Appearance -> Theme Options”?. If no, do you use a “one-click WordPress installation” from your hosting provider? Because in this case many hosting provider don’t give you the full rights for your WordPress installation, but to access the theme options you need all admin rights (for security reasons).
The theme registration is working, and we have to do that because there are many illegal copies out there of our themes, and that’s the only way we can control it and protect our work. Most other theme provider have also a licensing system for their themes.