i have spent the last two hours reading, but cant find any thing on it.
i know the slider text uses excerpt, which is the first 155 words.
but i notice on your demo site of sparkling on the slider it just shows the first paragraph of the posts.
how did you get it to show just the first paragraph of the post and not the whole 155 words? i thought it was just the <P> tags, but that doesnt work, still shows the full 155 words.
You can use Excerpt field that you can see right below your Post editor. There is a widget called Excerpt and there you can add as long content as you want and it will be displayed on slider. It can be 1 word or 500 words and in both cases this will be printed directly without modifications.
Here you can see a screenshot of that field that you should find under Post editor: