Site Crashing after updating theme

I followed the directions in your sticky thread at: http://support.skywarriorthemes.com/?topic=updating-theme-step-by-step

I’ve tried updating the theme both ways from the instructions.

My site will not load with the new update(currently on 1.6.1), it crashes and i get a 504 error. Can you assist with the problem that’s causing it to crash please.
The new theme is already uploaded to my site but if i go and switch the theme to the new one, the site will crash.