I was trying to apply custom themes for the SharePoint 2010 Online site.
thought of making seperate theme, instead of applying for each site manually.
The steps to create the themes are explained in this link using power point
http://office.microsoft.com/en-us/powerpoint-help/customize-and-save-a-theme-in-powerpoint-2007-HA010250106.aspx
follow the above steps, create thmx file, navigate to Site Settings, themes, upload this file in to the themes gallary.
you can see your custom theme available in themes list.
