Hi,
First of all, you created post in a wrong forum category, I am seeing you have purchased "FashionMArt" template, but you created a topic in FashionMArt,". It gave little confusion to us, but that's okay.
Hiding categories from VM Frontpage has come with VM2.0.12.
Our new version of our VM Template - FashionMArt (v2.2) is able to handle this.
If "unchecked" the "Show Categories" in VM Configuration;
Then the categories are hidden in VM Frontpage.
I am sending you the latest version of our VM Template - FashionMart to your email address. And by clicking the same link from that email, you can download the VM Template whenever you want in the future the get the most latest version.
Please reapply it and you will get what you want.
Cheers.