We've installed this theme http://www.freshthemes.com/demo/weekly/ with Wordpress 3.1.3. When saving theme options the choices are held in the frontend, although not pressed right through to the database.
Around the frontend it's possible to clearly observe that the theme continues to be loading the right values in the database. That may have happened throughout among the wordpress primary version updates.
Any suggestions to reunite the admin panel towards the actual option values (saved in wordpress_option)? Maybe this happened because of a behavior alternation in the Wordpress core which isn't reflected through the theme.
Searching toward your solutions!
This is actually the solution:
More: In case your lost your theme options just take a look within the table wordpress_options and check for LIKE '%theme_mods_%' on option_title
Within our situation names changes like this: OLD: theme_mods_weekly_v103 NEW: theme_mods_Weekly
To revive that old configurations copy the choice_value towards the new option_title