I meanwhile tested further.
It appears to be the first one.
No problems here.
What is your OS?
Did you install BS.Player with default settings?
You could also try as follows:
(0) exit BS.Player
(1) go to "Skins" folder within BS.Player's installation folder
(2) rename Media SUBlime.bsz to Media SUBlime.zip
(3) Unzip Media SUBlime.zip to a folder within the folder "Skins"
(3) Rename that new folder (just created) to (e.g.) "test"
(4) Restart BS.Player and select skin "test" ([Alt]/[S] etc.)
Any difference?