После нескольких вечностей, сработал следующий вариант

$(document).ready(function (){
  // Declare Carousel jquery object
  var owl = $('.owl-carousel');

  // Carousel initialization
    owl.owlCarousel({
    items:1,
    margin:10,
    autoHeight:true,
    autoplay: true,
    autoplayHoverPause:true,
    dots:true,
    loop:true,
    pagination:false,
    navigation:true
  });


  // add animate.css class(es) to the elements to be animated
  function setAnimation ( _elem, _InOut ) {
    // Store all animationend event name in a string.
    // cf animate.css documentation
    var animationEndEvent = 'webkitAnimationEnd mozAnimationEnd MSAnimationEnd oanimationend animationend';

    _elem.each ( function () {
      var $elem = $(this);
      var $animationType = 'animated ' + $elem.data( 'animation-' + _InOut );

      $elem.addClass($animationType).one(animationEndEvent, function () {
        $elem.removeClass($animationType); // remove animate.css Class at the end of the animations
      });
    });
  }

// Fired before current slide change
  owl.on('change.owl.carousel', function(event) {
      var $currentItem = $('.owl-item', owl).eq(event.item.index);
      var $elemsToanim = $currentItem.find("[data-animation-out]");
      setAnimation ($elemsToanim, 'out');
  });

// Fired after current slide has been changed
  owl.on('changed.owl.carousel', function(event) {

      var $currentItem = $('.owl-item', owl).eq(event.item.index);
      var $elemsToanim = $currentItem.find("[data-animation-in]");
      setAnimation ($elemsToanim, 'in');
  })

});

HTML слайдера:

<div class="owl-carousel">
	<div><img src="http://xn--e1afpni.xn--80adxhks/wp-content/uploads/2014/12/1-1.jpg" alt="" width="848" height="370" />
		<div class="item12">
			<div class="big-text" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style=" max-width: 500px; min-width: 450px; top: -15px;">
				Двери серии Trend                            
			</div>
			<div class="excerpt" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" hidden-xs" style="top:-15px;"><span style="font-size: 18px;">Новый Тренд в Эко Шпоне</span></div>
			<div class="button-holder" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style="top: -15px;"><a href="discounts/" class="btn-lg btn btn-uppercase btn-primary shop-now-button">Подробнее</a></div>
        </div>
    </div>
    <div><img src="http://xn--e1afpni.xn--80adxhks/wp-content/uploads/2014/12/ded96eb521aaf1cea928cc95dc05d996.jpg" alt="" width="848" height="370" />
        <div class="item12">
			<div class="big-text" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style=" max-width: 500px; min-width: 450px; top: -15px;">
				Двери серии Trend                            
			</div>
			<div class="excerpt hidden-xs" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style=" top: -15px;"><span style="font-size: 18px;">Новый Тренд в Эко Шпоне</span></div>
			<div class="button-holder" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style="top: -15px;"><a href="discounts/" class="btn-lg btn btn-uppercase btn-primary shop-now-button">Подробнее</a></div>
		</div>
	</div>
	<div><img src="http://xn--e1afpni.xn--80adxhks/wp-content/uploads/2014/12/ded96eb521aaf1cea928cc95dc05d996.jpg" alt="" width="848" height="370" />
		<div class="item12">
			<div class="big-text" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style=" max-width: 500px; min-width: 450px; top: -15px;">
				Двери серии Trend                            
			</div>
			<div class="excerpt hidden-xs" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style=" top: -15px;"><span style="font-size: 18px;">Новый Тренд в Эко Шпоне</span></div>
			<div class="button-holder" data-animation-in="fadeInUp" data-animation-out="animate-out fadeOutDown" style="top: -15px;"><a href="discounts/" class="btn-lg btn btn-uppercase btn-primary shop-now-button">Подробнее</a></div>
		</div>
	</div>
</div>

CSS:

.item12 {
    color: #fff;
    position: absolute;
    top: 24%;
    z-index: 250;
    padding-left: 8%;
	
}
.item12 .excerpt, .item12 .small {
    font-size: 17px;
    line-height: 30px;
    margin-top: 10px;
   margin-bottom: 20px;
    font-family: 'Roboto';
    font-weight: 500;
    background: rgba(0, 0, 0, 0);
    color: #fff;
    text-transform: uppercase;
    text-shadow: 1px 2px 2px rgba(0,0,0,0.9);
}
.item12 .big-text {
    font-size: 35px;
    line-height: 50px;
    text-transform: uppercase;
   text-shadow: 1px 2px 2px rgba(0,0,0,0.9);
 
    color: #fff;
}
.animated  {
  -webkit-animation-duration : 3s  ;
  animation-duration : 3s  ;

  -webkit-animation-delay : 500ms  ;
  animation-delay : 500ms  ;
}

.animate-out {
  -webkit-animation-delay : 0ms  ;
  animation-delay : 0ms  ;
}