WordPress 4.0 – Update your themes
The WordPress 4.0 update includes a change in the admin area that can cause the media uploader buttons to cease working on some pages. We have fixed this issue and published updates for all affected themes. Please make sure you update your themes either before or after upgrading WordPress to 4.0 to ensure everything is working properly.
You should see the available update in your admin dashboard provided you have registered your theme. Otherwise the update will need to be applied manually. You can find instructions on that here: http://docs.rawfolio.com/manual-updates