It doesn’t matter whether the form was in graphics mode when you opened the Font Awesome icon wizard, it only matters whether a form is open at the time you press the Make Button button. In the movie you posted, I don’t see a form open in graphics mode (of course the movie is cropped pretty tight).
Here is the start of the code in the Font Awesome wizard that find’s the topmost form in graphics mode (if any).
targetWindow = firstline(graphicsModeWindows)
nsnotify "Cannot create button","TEXT","Please open a form in Graphics Mode."
Leo, I would guess that you don’t have any form in graphics mode, and you don’t have notifications enabled for Panorama X. Panorama X uses notification quite a bit for warnings like this, I would recommend making sure they are turned on.