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Am using flex slider 2.0-alpha3 and the dev version. when activating the admin 2.0-beta3 module the flex slider stops working. Just disable it and your flex slider works again when logged in as admin :)
Also because the dependancy on using jquery update with jquery library 1.8 is not forced it took me a while to figure out why my flex slider stopped working.
Would be nice if it is forced..