Theme description on wordpress.org says: "Features full-bleed featured posts and featured images". After installation, i was trying to activate Front Page Slider following instructions here. However, that seems to be reserved for wordpress.com users only.
The last link in the above suggests: "You can achieve the same effect on your self-hosted site using Jetpack, which includes the Featured Content plugin we use on WordPress.com: http://jetpack.me", however on installing Jetpack by WordPress.com I don't see any "Featured Content" plugin inside.
Some simple HOWTO on this issue would be of a great help.