In case anyone else finds this thread while looking for a solution, please be aware that, if you or your hosting provider use Suhosin extensions to PHP there are two settings that must be set in the primary php.ini file (users report setting these in the local php.ini file have no effect):
Higher is better. 200 gave me 17 menu items. I increased mine to 500.
This is NOT a problem with Kriesi themes and, although I have a license to one of your themes, I experienced this problem in a homegrown theme on a separate WP install.
FYI: Suhosin is a popular patch to PHP that provides better security, among others things. Popular Linux distros have used / are using it - like Ubuntu - so it could easily be a problem for anyone here.