Hi,
The version of Revolution Slider we have bundled with the theme is ver3.0.5. And we are using the same version for demo purposes as well.
Is it possible that you already had Revolution Slider installed before you installed the theme? If that is the case, then I would suggest you follow these steps to get the new version installed.
1) Deactivate the Revolution Slider Plugin.
2) Delete the Revolution Slider Plugin
3) Reinstall the plugin and create a new slider.
4) Import the slider data from the “revolution-slider-import-data.txt” file that we have bundled with the theme.
You will have to redo the changes you made to the slides. If you still face issues then please send me a temp login to your site using private reply, I will fix it for you. Thanks!