Hi @jimwall2, this isn't true. You simply have to click the 'Import settings from v1.x' button. Simple, and clearly documented. See the FAQs (also made a stickied support topic on it).
I've upgraded from v1.x and my slides have disappeared.
Don't sweat! Simply navigate to the "Edit Slideshow" admin panel and click the "Import my Easing Slider v1.x settings" button. That's it! If you run into any trouble, don't hesitate to open a support topic, or have a look at the screencast below.
Upgrading from v1.x
Due to unresolvable circumstances it wasn't possible to make the settings upgrade automatic. Sadly this was beyond our control. Lots of information on this in the support forums also, you can see some of the support topics about problems users were having related to filename changes.
Unfortunately, taking a manual approach was the solution and seems to have resolved all of the headaches. Not ideal, but it works.
I'm sorry you've felt the need to leave a 1 star review like this. My apologies for the misunderstanding. I do hope you will reconsider your opinion of the update, and I definitely encourage you to give it another try.