This is a FemtoIDE project that will help with kraken theme creation process.
Change colors and images click build & run to visual the changes immediately.
When you finish with your theme you can share the folder with the community.
There is a wiki article that have more information about themes.
Maybe I am wrong but I think the theme maker only converts the images you want to use right? After you just copy the converted file on the SD in the right folder. At least that’s what I did when I worked on my theme.