I haven’t downloaded the zip file but would suggest a few obvious problems that might be causing it…
ensure that the sphere is a “meta-nurb” or sub-patch object, select it & hit TAB key…if it won’t allow it try importing another object in LWO or OBJ format.
Start small…put displace on 1 (1=on/0=off) but turn the bump way down to 0.1 or lower & work up from there. The bump settings are very sensitive.
Check the division levels of the sphere…turn the Sub Level to 10 & see what happens, if it’s divided more it should allow finer displacements.