Two things that could cause this:
Do you have the styles for the featured content slider in your theme’s main stylesheet? As much as I like to consolidate files, I have found that some jquery based image display scripts break unless you keep their stylesheets separate.
What more likely is the issue: script conflicts. If you are running several scripts that call JQuery, or scripts that use other libraries like Mootools or prototype.
You will need to put the featured content script code into noConflict mode by giving it a designation other than $.
Put these lines above the start of the content slider code in your header:
// Use jQuery via $j(...)
var $j = jQuery.noConflict();
The first line is just a comment so you can keep tabs (excuse the pun) on what you are using for calling jquery.
Then change $ to $j (or whatever extra letter you want, just something to make it unique.
So, your featured content header code will look something like this:
// Use jQuery via $j(...)
var $j = jQuery.noConflict();
$j(document).ready(function(){
$j("#featured > ul").tabs({fx:{opacity: "toggle"}}).tabs("rotate", 5000, true);
});
Hope this helps!