Flipside supports the following two structures for wrist twist bones. If your character is rigged and setup correctly, Flipside will automatically discover and use the twist bones.
In this case, the twist bone must have the same parent as the hand/palm bone.
In this case, the twist bone must be the child of the forarm bone, and the parent of the palm bone.
Be sure that it is not being controlled by mecanim.
You can have multiple twist bones but will need to assign them through the Creator Tools. In the Mecanim bone mapping, make sure lower arm and hand have assigned values. Those are what the wrist bones try to match for rotation.
Go to the AvatarModelReferences on your character. You should see a section titled Wrist Settings with lists for Left and Right Wrist Twist Bones.
If both lists are empty, you should also see a Find Wrist Bones button. If you click that, Flipside will search for a child of the lower arm other than the hand and assign that to the list. This is the same as what it uses by default if you don't assign one here.
To get more than one twist bone per wrist, or if Find Wrist Bones didn't find the right game objects, you can directly assign a gameobject by dragging and dropping from the hierarchy window onto the list.
Once there are bones you'll also see lists for Cross Fades. The cross fade values determine how they blend between the rotation of the lower arm or the hand. A value of 0 would match the rotation of the lower arm, a value of 1 would match the hand. But the point of having twist relaxers is they will be somewhere between.
The Creator Tools will calculate a crossfade value based on the position of the bone. This will probably be good, but if you need to change it to something else, you can open those array and assign your own values. At any time, if you want the Creator Tools to recalculate the values, you can press the Calculate Cross Fades button.
Next: Creating a custom set