I looked on Cydia and the theme does not say it's compatible with the iPad 4. However, it does not say it isn't compatible with the iPad3 (remember, both are retina devices, so it'd be the same). Since you can't tell from the description, before you spend your money, may I recommend you e-mail the developer? You can access his/her e-mail directly within Cydia.
Originally Posted by jemyclarke
Or, someone here will be along to tell you whether they have it installed and working on their iPad 3 or 4... :)