When you create a slide for the featured content slider, that slide is set to draft mode. In order for it to show on your home page, you need to change it from drafted to saved.

Be sure to save the changes after you change the status of the page.

If the image is set to published, but the text isn't showing, make sure that you have two or more images set up and published. If only one image is set up, no rotation will occur and the clickable text will not show either.