{{block type="featuredproducts/listing" template="featured/featuredproducts/list_home.phtml"}}
Have you added products to the site?
Made sure they are active?
Also check to make sure they are listed in categories (Admin--->Catalog--->Manage Categories)
One of these could be the problem. When I was creating a new site I had a similar issue before i realized the products were not listed under categories.
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Products have been added and are enabled to be seen as featured products. Products are listed in categories – 7Dragons Aug 21 '16 at 15:27
featuredproducts/listing
block type, seem that it is your custom block? – Khoa TruongDinh Aug 21 '16 at 2:51