I have it working in my free version but I have an issue as well.
First go to appearance / Customize / Featured Slider Options / Feature slider type
In the “Select Slider Type” pulldown menu switch from “Demo Featured Slider” to “Feature Page Slider”. Then select the page/post you want to feature.
Then go to the page/post you selected and set the “featured image” to the image you want to use for that slider.
The issue I am having is that it uses the first few lines of text from that page and I am trying to figure out how to customize the text on the slider so it does not use the text from the page as the description on the slider or if it can use a shorter piece of it. It is using about 5 lines of text which is much longer than what the demo shows.