Index: src/bp-core/bp-core-catchuri.php
===================================================================
--- src/bp-core/bp-core-catchuri.php	(revision 9877)
+++ src/bp-core/bp-core-catchuri.php	(working copy)
@@ -367,6 +367,8 @@
  *   bp_core_load_template( 'members/index' );
  * Loads:
  *   wp-content/themes/[activated_theme]/members/index.php
+ * or
+ *	wp-content/themes/[activated_theme]/[buddypress or community]/members/index.php
  *
  * @param array $templates Array of templates to attempt to load.
  * @return bool|null Returns false on failure.
@@ -391,9 +393,9 @@
 		$filtered_templates[] = $template . '.php';
 	}
 
-	// Only perform template lookup for bp-default themes
+	// Only perform template lookup for themes with the buddypress pages inside them
 	if ( ! bp_use_theme_compat_with_current_theme() ) {
-		$template = locate_template( (array) $filtered_templates, false );
+		$template = bp_locate_template( (array) $filtered_templates, false );
 
 	// Theme compat doesn't require a template lookup
 	} else {
Index: src/bp-core/bp-core-theme-compatibility.php
===================================================================
--- src/bp-core/bp-core-theme-compatibility.php	(revision 9877)
+++ src/bp-core/bp-core-theme-compatibility.php	(working copy)
@@ -310,7 +310,7 @@
  *    not been updated for BP 1.7+; we make the assumption that any theme in
  *    this category will have the members-loop.php template, and so use its
  *    presence as an indicator that theme compatibility is not required
- *
+ * 4) A legacy template is found at buddypress/members/members-loop.php or at buddypress/members/members-loop.php
  * @since BuddyPress (1.9.0)
  *
  * @return bool True if the current theme needs theme compatibility.
@@ -337,6 +337,10 @@
 		// Examples are clones of bp-default
 		} elseif ( locate_template( 'members/members-loop.php', false, false ) ) {
 			$theme_compat = false;
+		
+		// For themes using the guidelines from https://codex.buddypress.org/themes/theme-compatibility-1-7/a-quick-look-at-1-7-theme-compatibility/#overloading-template-compatibility-theme-files
+		} elseif ( bp_locate_template( 'members/members-loop.php', false, false ) ) {
+			$theme_compat = false;
 		}
 	}