Just some suggestions based on the 1st time using the slider to improve the plugin...

Already mentioned this, but nice to have a default background-color setting... with a border so you can see a transparent or white slider area in the editor.

Weird that there is no preview within the slider admin? Have to add the Slider block somewhere to see it?
I'd suggest at least a link on the slider page to preview it so you don't have to push a new slider live to view it (or resorting to creating a block that shows up on a test page that no one sees which also seems hacky).

Doesn't seem to be compatible with newer jquery libs. I got a few $.browser undefined errors. Im using jQuery Update module to use a newer version, but can use an old one right now if needed.

Creating a new image layer into Mega Slider makes them a square ... Not in same aspect ratio?...
It should import at the same size it is currently ...
if its the same size as the slider, it should place it as a background a (x,y)=(0,0)...
and if the pic too big then shrink it to display in the box in a smart way (same aspect ratio at least).
Right now it isn't smart, it just makes every image I import a square so I have to resize it.

I think its hard to get nice rounded corners hyperlinks-buttons (like a hover state) ...
Would be cool to define the hover state so when user hovers over the link, the background color can change.
An idea is to define a dropdown of button styles similar to Revolution Slider,
so a regular user can just pick what style they wants (and admin user can easily add to this dropdown list).

Doesn't delete files when deleting a slider image layer?
I deleted a slider and the image was still in my file-system.

Doesn't set a folder where it can put the slider pics for organization (dont want mess of files in the default directory)...
Would be great if put into nice structure like you specify the relative folder name in your current file system...
then MegaSlider adds folder based on which slider-id it is... like 1/ if its the 1st Mega Slider created, with all its respected pics in there.

Can't use a hyperlink to a certain part of a page since MD Slider tries to encode the url ...
I was trying to do something like this:
/content/documents-and-tools#newsletters
which becomes:
/content/documents-and-tools%23newsletters
which doesn't work so i had to resort to just removing the hash tag. But would be cool if supported all urls.

Sometimes it was saving font-size, font-family changes i had but never displaying them...
Like i could pull up the MD Slider admin interface to keep changing the 3rd slide... and it would definitely save into the database...
Yet the slider on the page I kept refreshing never reflected these changes (the dynamic css was never created).
I had to delete the layer and redo the text layer then it worked...
Not sure what it was since I don't use any caching modules (use drupal's default caching and i kept clearing the cache to no avail).

Can't edit text inline to look different without resorting to html span's.
Like what if you had a rounded corner hyperlink-button and the text at the bottom is larger and different font.
Would be cool to highlight the portion of text similar to Photoshop to change style.

Thanks!,
Looking forward to next releases with hopefully some of changes.
Ari