This was due to a small bug being left in the vSlider. In line 482, instead of get_options it should be get_option. You can rectify that manually by Dashboard->plugins->vslider->vslider.php search for get_options or replace the vslider folder in WordPress plugins with a new downloaded vSlider folder from WordPress.org.
We have rectified this issue in the vSlider 4.0.3, yesterday. And I apologize for all the trouble to vSlider users. I am currently adding a new feature to vSlider where you can grab the first image of the post for your vSlider. And will be rolling out vSlider 4.1 soon with this update.
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