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Got some unexpected help and discovered that it’s in the settings menu. For anyone reading this thread, from the “Settings” menu choose “reading”, then highlight the “static page” radio button.
Sakin,
I had this same question and copied the code you posted above into the custom CSS box and there was no change in the post author, date or category. Is there something that I missed?
Not sure if you tried this yet or not, but if you go into the “theme options” menu, you can enter the number of words you want to show in your posts in the “excerpt length in words” field. The default setting is 40.