You need a simple mod in order to achieve this, please replace your “shortcode_portfolio_carousel” function in includes/shortcodes.php with this:

function shortcode_portfolio_carousel($atts, $content = null) {
	
		extract(shortcode_atts(
			array(
				'heading' => __("Portfolio Items", "Terra"),
				'max_items' => (isset($atts['limit']) ? (int)$atts['limit'] : 10),
				'order_by'=> 'date',
				'category_name' => '',
				'centered_title' => 'yes',
				
			), $atts));
	
		$projects = get_portfolio_items($max_items, $order_by, $category_name); 
		
		$str = '';
		
		$portfolio_style = ot_get_option('portfolio_style') ? ot_get_option('portfolio_style') : 'type1';
		$centered_title = (($centered_title=='yes')||($centered_title=='Yes')) ? true : false;	
			
		if($projects->have_posts()){
		
			// generate checksum of $atts array
			$carousel_id = md5(serialize($atts));
		
			$str.='	
			<div class="info_block animationStart">
				<div class="h10 clear"></div>
				<h2 class="'.(!$centered_title ? 'left_' : '').'title"><span>'.$heading.'</span></h2>
				<div class="clear h20"></div>
				<div class="carousel_section">
					<div class="carousel_arrows_bgr"></div>
					<ul id="portfolio_carousel_'.$carousel_id.'">';
						while($projects->have_posts()): $projects->the_post(); 
						if(has_post_thumbnail()): 
						
							$taxonomy = 'portfolio_category';
							$terms = get_the_terms( $projects->post->ID , $taxonomy );
							$cats = array();
							
							if (! empty( $terms ) ) :
								foreach ( $terms as $term ) {
									
									$link = get_term_link( $term, $taxonomy );
									if ( !is_wp_error( $link ) )
										$cats[] = $term->name;
								}
							endif;
						
							$str.=
								'
								<li class="one-third column info_item">
									<a href="'.get_permalink().'" title="">
										<div class="pic_info '.$portfolio_style.'">
											'.get_the_post_thumbnail($projects->post->ID, 'portfolio-medium').'<div class="img_overlay_icon"><span class="portfolio_icon icon_'.getPortfolioItemIcon($projects->post->ID).'"></span></div>
											<div class="info_overlay">
												<div class="info_overlay_padding">
													<div class="info_desc">
														<span class="portfolio_icon icon_'.getPortfolioItemIcon($projects->post->ID).'"></span>
														<h3>'.get_the_title().'</h3>
														<p>'.implode(' / ', $cats).'</p>
													</div>
												</div>
											</div>
										</div>
									</a>
								</li>
								';
							
							
						endif; endwhile;
						$str.='
					</ul>
				</div>
			</div>

			<div class="h20 clear"></div>
						
			<script type="text/javascript">
				jQuery(document).ready(function() {
					jQuery("#portfolio_carousel_'.$carousel_id.'").jcarousel({
						scroll: (jQuery(window).width() > 767 ? 3 : 1),
						easing: "easeInOutExpo",
						animation: 700
					});
				});	
				
				
				// Reload carousels on window resize to scroll only 1 item if viewport is small
				jQuery(window).resize(function() {
					 var el = jQuery("#portfolio_carousel_'.$carousel_id.'"), carousel = el.data("jcarousel"), win_width = jQuery(window).width();
					   var visibleItems = (win_width > 767 ? 3 : 1);
					   carousel.options.visible = visibleItems;
					   carousel.options.scroll = visibleItems;
					   carousel.reload();
				});
			</script>';
		}
		
		return $str;

}

Working just fine now, thank you! Really enjoying this theme.