Hi! I'll just jump in because I thought I had the same issue. Reading the documentation helps a lot - but you have to create a page in the template builder. Call it whatever you'd like - say...HOME. Add a "slideshow" element and then all your customization will come from adding slides to that particular page. That is done WITHIN that page in your admin. SO - if you have a page called "Home" there are a few things you need to do in it.
1. Along the rightside there is a section called "layout". You must choose (in the first dropdown) DYNAMIC TEMPLATE then in the drop-down below - choose the name of template that you just build...HOME in this case.
2. In the middle you will see Slideshow options and Featured media below. that. Set the slideshow options wo auto-rotate or whatever (if you are going to have more than one slide) - then you add your images below in the featured media.
3. Click ADD IMAGE TO SLIDESHOW. Make sure the image is big enough - I usually create them to spec so at least 950px wide. Once it's uploaded you can add the taglines by clicking on the SHOW icon to the right of the uploaded image. From here it is also self explanatory. There is a "default options" tab where you can change how the image links and then also advanced settings to make the tagline/caption on the left...right...bottom...
Also note - the shortcodes on this theme are AWESOME - so you can add all sorts of buttons and stuff here too. I usually create the shortcode that I want to use in the editor on the page, then cut and paste it to where I Want to use it.
Hope that helps :)
Create a new thread and tell me what problems you are encountering and what you want to know. 
There is no step 3 :) 
