There are a few ways to show Featured Itemson your main page. One way would be through a featured column on the right (which the template designer would have had to add %FEATURED_COLUMN% to your template) or on the main page under your content. In order for featured items to show on your page under your content, you need to first tell your main page to show Featured Items.
To to Website / Pages / Home Page / Edit
Where it says "Show Products", select Featured Products
Click the Update button
Now, in order to tell products whether or not to be featured, go to Advanced / Featured and select products from the dropdown menu that you want to feature and click the Set button. You can also use the Unset button the same way. Another way to tell a product to be featured is on the product page, where it says "Featured", set that to Yes.
Displaying More Featured Products On Home Page
On the home page, the featured item list that is selected in the 'Show Products' field only shows one page of items. The number of items shown is based on the 'Layout Style' and 'Item Rows' selected in the 'Catalog Setup' area of the site. For instance, if the 'Layout Style' is set to 3 columns, and the 'Item Rows' is set to 5, it will show 15 items here in the three column format. This behavior is different than clicking the 'Featured Items' link, which shows all featured items and not just the first page. The reasoning behind this is that the page is a single page and not a dynamic selection, so it shows just a static amount of items without page numbers.