Attached is my patch on 7.x-1.82 field_slideshow.module to enable Image Field Caption captions for Field Slideshow captions.
I didn't spend too much time messing around with this, but I was able to get my Image Field Caption text to load as a caption with Field Slideshow width just a few lines of code. I needed this for a customer's commerce site; going with field collections was not an option, and although the Media module is installed 1) it appears Field Slideshow only yet supports Media 1.x (I have 2.x with File Entity—maybe I just didn't try very hard to see if it works), and 2) I needed the caption field on the product/node edit form (maybe this can be done with Media, but Image Field Caption seems simpler/easier).
At any rate, I got something that seems to work so far, and it sounds like other people would appreciate the integration as well. So I'm posting my patch here expecting/hoping that others can use it and that it might be improved to be committed to Field Slideshow in future releases.
Potential issues I didn't bother addressing, or even looking into at all really:
For the other field types, Field Slideshow expects a regular text field, not long text. Image Field Caption is a long text field—it seems to work fine, except lines aren't breaking as they normally would (HTML input in the caption field is in fact rendered). I don't know if there's any reason really to limit captions to regular text fields; in fact, I think enabling HTML and long-text fields is a benefit for at least some applications.
There may be a better way to make the conditional statements than checking for the module and the caption field setting, but maybe not. With field collection or media, we can rely on the field type, which we can't do using the Image Field Caption module.
It seems like the logic of the conditional statements makes the different caption sources mutually exclusive. Most cases, this wouldn't seem to matter. However, theoretically I could have an image field, using both the Media/File Entity modules and Image Field Caption (as in fact I do)—in this case, I might want the option of using a field on my Image file entity, or the caption field, depending on view mode, for example. I didn't need this flexibility, but it seems like a good idea to build it in.
Again, I didn't spend very much time on this, and didn't even really spend too much time looking into/familiarizing myself with the code for either modules. I don't expect this to be the best possible integration, but both modules seemed simple enough.