Sorry my mistake on the version – wrong plugin. I updated to the latest. Seems I had an old version of grimlock itself (not for buddypress) installed. I’m not sure what came default with the package.
It look slike the update process itself is what was making things a little crazy here. This site is on a multisite, and the only way to check for updates via the dashboard is to network enable all the plugins installed with this theme as addons (grimlock, etc.) as they dont show up in the standard updater for whatever reason.
Anyway, looks like it is working now but maybe explore the update process on a multisite install. Thank you guys.