gjr,
The test on that page is using a Custom HTML module. The "Test Apply" title is the module title and the tag was inserted into the Custom HTML area. Does the Apply button work when you use the Apply Module? If so, you can try to put it in that sidebar after the Custom HTML module and simply disable the title. That may work, though shouldn't be necessary.
As for problems with that specific template, we don't know of any. We've had issues with some template providers for various reasons in the past. However, we don't know of any with the RocketTheme templates right now, and most issues in the past have *not* been with the tag replacement stuff.
Hope that helps. Curious to know if the module works.
Thanks,
Alex