When you updated WordPress did you also update your Theme? I can’t easily test your theme out because it is a premium theme. However, I can try to walk you through a few things:
1. Go to Appearance->Widgets in the WordPress Dashboard.
2. This Step may require FF or Chrome – Right click on the Home or Primary Sidebar (whatever your default is) and select “Inspect Element”
3. There will be an H3 element with the Primary Sidebar Name within. Directly proceeding it will be a DIV element with an ID. Copy down that ID. (see example here)
4. Go to Settings->Page Sidebar Settings
5. Copy the ID from Step 3 into the Text Field labeled Primary Sidebar Slug
If you are using IE, you might just View the Page Source and manually find the H3 Element with the name you are looking for. Alternatively, if you know the Theme’s code well, you can find where the primary sidebars are being initiated and get the name from there.
If you’ve already done all of this, I apologize. I’m just starting with the basics in case this was missed. I hope this helps, and hopefully solves it, but if not, We can certainly try something else.