Ah I see why, we didn't include arrows in this template. If you want to just change the text you can do so by opening up the JS file located here:
modules\mod_s5_image_and_content_fader\js\jd.gallery.jquery.js
and look for the below at about line 315:
var leftArrow = $('<div class="leftarrowwrap"><a class="left"><span class="iacf_prev">Prev</span></a></div>').bind(
'click',
this.prevItem.bind(this)
).appendTo(element);
var rightArrow = $('<div class="rightarrowwrap"><a class="right"><span class="iacf_next">Next</span></a></div>').bind(