I had a similar problem, and it appears to be an issue with the theme.
Under Settings > Reading, try setting the “Blog pages show at most” to 4.
It seems the number of pages is somehow based on this setting. So if you have the default setting of 10 posts per page and you have 16 posts, the slider will only have the first two pages working properly – pages 3 fails to load and breaks the script.
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