Ron,
That would be a logical answer, if it were the case, sadly it is not. We have three slides in the slider. When we are logged into the side as administrators the slide performs as expected. However when we are logged out, or just the average visitor visits, it appears there is only one slide (the one we most currently added).
It may be helpful to know I’ve checked that slider against my other sites with sliders and all appears to be functioning properly and have similar settings. It is most perplexing. Do you have any other information, now that you know we do in fact have more then one slide in the slider?