Go to ACP->Templates & Style->Templates-> *Chose Your Theme Template* ->Post Bit Templates
Now, find "Postibt_Classic" and open it. Copy all content from there and close it.
Now Find "Postbit" and paste content you are copied (Postbit_Classic content)
Important: It does not matter what is checked in your panel
("Display posts using the horizontal post layout" or "Display posts using the classic layout") this will work anyway!