Most of community functions of theme depends on Buddypress and theme has extended support of this plugin
When you enable BuddyPress, you can activate/deactivate different modules. Enable only modules which you need on site, because each module is additional load on server. You can enable them in Settings – Buddypress
All customizations will be enabled from theme by default, colors will match your theme colors. There are some additional tips, which you can enable from theme. All of them are in Theme option User option and in Theme option – Buddypress . So, visit this pages for start settings.
More advanced options can be found in article