KB Article: http://support.microsoft.com/kb/2512790

INTRODUCTION

This article describes the Microsoft Office PowerPoint 2007 issue that is fixed in the hotfix package that is dated April 26, 2011.

Issue that this hotfix package fixes

• Assume that you apply a custom animation to a text box in a Office PowerPoint 2007 presentation. When the animation runs, the text at the end of the text box may be cut off. Or, the text may overlap other text. Specifically, this issue occurs for one of the following reasons:
  • You use the By letter option for animated text effect.
  • You apply several animations to the same text box.