[Grace Themes]

Hi,

Go to Settings -> Reading -> Front page displays
click on radio button of Your latest posts

To display post and pages in site
Go to Appearance -> Theme Options and click on Restore Defaults in bottom side

To customize the theme
Go to Appearance -> Theme Options

Please see the documentation, it will surely help you to customize the theme.
http://gracethemes.com/documentation/zeroerror/

Regards
Grace Themes