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Its renamed to "Designs" ... the documentation is not really acurate for 7, its most likely a Jive 6 documentation with minor changes in some points at the momen
Were in a similar boat, I've found two solutions.
It seems to be that Jive SBS 7 locks people into a very rigid framework if you just use the point and click customisation. I suspect this is so upgrade paths are maintained without creating a UX issue, also you instances need to be able to style as mobile applications which is another reason.
You can either go to your profile in the top right hand corner, and click 'customise your site.' This will allow for adjustments of the main jive template, (this being across the whole site.) It allows for basic colour changes.
Now the second way is to develop a custom template; these seem to be extensions of what you can do in the point and click edit view. If you navigate to 'admin/settings-themes.jsp' You should be presented with the theme console. I get our development team to style on locally installed Jive instances (using vagrant) then when they're/we're happy with the deliverable we push to the hosted UAT environment, fully test and then publish it to the Prod instance.