Views Slideshow - showing only one slide
The possible directions you can look into :


You need to install the jQuery cycle plugin. Create a directory in sites/all/libraries called jquery.cycle, and then copy jquery.cycle.all.min.js or jquery.cycle.all.js into it. You can find the plugin at http://malsup.com/jquery/cycle.
In views slide show settings check for the 'Timer delay' in 'View Transition Advanced Options'.

Also, check for the other options in views slide show settings.
In the views settings, you are only showing published contents for a particular type of content. Make sure you have more than one such content. (Based on your screen shot)
Considering you have enabled 'Views Slideshow: Cycle' module


(Answer is based on trial to regenerate the issue in D7, 7.22)

Hope it helps