Local Storage was disabled because many older devices (e.g. 2012 an 2013 models) with the TV Store doesn't support it as well. In this way this emulator reflects behaviour of those platforms. In the recent models it is enabled and can be used. In a matter of days we will release new version of the Emulator which emulates behaviour of those platforms though where it is enabled as well. It will be available at the http://www.operasoftware.com/products/tv/tv-emulator.
