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I see what it says, that it converts adventure experience, but what does moving the slider actually do?
If it's on zero does it mean I get zero AA experience when playing?
It sets the amount of adventure xp you convert to AA.
If its set to zero you get the normal amount of adventure xp from mob kills quests etc and the normal amount of AA for these aswell. If you set the slider to anything above zero you get more AA and less adventure XP, all the way upto 100% - all your adventure xp is converted to AA.
The default setting is zero unless you are level 80 in which case the default setting is 100%.
But sometimes I get experience for killing mobs when its set to 100%, most times I get zero AA exp AND zero adventure exp. Where's the exp going that I'm supposed to be earning?
Yes ive noticed this myself sometimes - it seems that AA xp dosent update with every kill. It looks like it updates every 3 or 4 kills, or xp gains instead of with every kill like normal xp does. You should still be gaining it, its just not reflected in UI updates quite as often.
It is basically how the AA scales to show that the more AA point you have the harder it is going to be level them so it isn't constantly you are getting 1% or 5% per kill it becomes 1% per 2 kill 3 kill etc. When the AA is on 0 you would only get AA exp when completing quest and killing named mobs.