I've actually fixed the issue. You guys will want to look into the helper.php file located in the libraries/joomla/installer directory.
Apparently during the upgrade you guys did in this template, the coding for this file was changed somewhat and it wasn't compatible with the new updates. When trying to install a plugin from the extensions -> Install/Uninstall you would get the above problem. But I changed the file back to the old file before the upgrade and it worked perfectly.
I suggest you guys install the quickstart version of this theme and address this problem for others that might want to use this theme. As for myself, I've resolved the issue.