Hello talkingtolearn ,
To Position template
For add new position in the ja social template , You need to goto admin login ->Extensions -> Template Manager ->ja_social ->Layouts ->Layouts Management->Default ->Edit . Here you can add module position as per your requirement .
Also Here You can move module position in the template .
About Ja social is compatible with 1.7 joomla version , Currently Its not available with 1.7 joomla version . Our developer working on it .
You can get the Information for JA social for Joomla! 1.7 , You can get at http://www.joomlart.com/updates/joomla-templates