There's a link to the theme description in the footer of the theme http://theme.wordpress.com/themes/itheme2/
live demo site http://itheme2demo.wordpress.com/
iTheme2 also has lets you feature up to 30 posts in it’s featured post section on the home page. All you have to do to activate the Featured Posts in iTheme2 is have a sticky post http://en.support.wordpress.com/posts/post-visibility/#sticky-posts with a featured image. http://en.support.wordpress.com/featured-images/ The large featured image size is 593 wide by 261 high. Once you have set one featured image http://en.support.wordpress.com/featured-images/#setting-a-featured-image and published the post, the featured post area will appear on the front page of the blog. If you have more than 5, navigation arrows will appear on the left and right. Your visitors can then click through to see all the posts you’ve featured up to up to 30 posts.
Note: The theme appears to be designed so that when a featured post with a featured image is marked sticky and displays in the slider, then it does not also appear in on the same page ie. front page again.