Under the Misc tab you can find some advanced settings, which mostly refers if you use a hook to show the slider.. You can leave them on default values in the most cases.
If you have multi-store enabled on your site, then the Shop parameter is a useful one, because you can define that on which store will the slider appear in the selected hook.
It usually happens that your store has multi-language support, so with the Language option you can choose the language of the current slider. If you would like to have the same slider on the other language as well but with translated text, you only have to do is duplicating the slider, change the text layers, and select another language for this parameter.
You can also fine-tune on which Pages and Categories will the slider appear in the selected hook. For example you would like to have different slider for each category header, just select the proper items here in the Categories & Pages option.
The Ordering option is a quite awaited feature. If you have placed more sliders into the same hook you can define their orders with that. The smaller number the prior position.
You can also set a preview image for the slider. In this case it will appear in the slider list or in the grid view. If you haven't set any here, the background image of the first slide will be use as thumbnail if set.