i am using the same template (with same Version: 3.0.1) with my two different websites but i can see “Content Options” or more options in one of them only.
you will understand well after seeing this attached image.
Please ensure that you have installed all the required plugins for the theme int the second instance as it could be the case that the recommended plugins are missing.
Could you please provide a link to your website so that I can inspect it and provide you with some CSS to remove the spaces?