Well as it already links somewhere, if you are clicking on an image/video it would be nice to arrive there (maybe a config option). I understand that is not the intention of the block but it may be the expectation of the user who clicks a specific item. No problem if no change, just thought it was worth a mention.
This particular block just has a simple list of image URLs it rotates through, so it would not be trivial to do, the data structures in the JavaScript code would need reworking.
It's designed to be an animation representing a gallery, rather than an interface for browsing within that gallery.
The non-bundled image_slider addon links to individual images.
As for sorting, I can see that being useful for some people, but it's not a bug. I'll add a new issue.