Check out their docs. They created a lot of documentation that covers how to do different effects and transitions. You can access this from the help link at the top of the layer slider settings. You can also look at their site for examples of what all you can do with the plugin – http://kreaturamedia.com/layerslider-responsive-wordpress-slider-plugin/
I’ve never had any issues with the plugin myself, but if you ever run into any issues or if you have specific questions about the slider you can check out the author support forum if you need any assistance – http://support.kreaturamedia.com/faq/.