Microsoft have released an update to Download details: Producer for PowerPoint which works with

  • Microsoft PowerPoint 2002
  • Microsoft Office PowerPoint 2003
  • Microsoft Office PowerPoint 2007
  • Microsoft Office PowerPoint 2010

From the web page:

"Microsoft Producer for PowerPoint provides users with many powerful new features that make it easier to synchronize audio, video, slides, and images to create engaging and effective rich-media presentations. Producer gives content and media professionals, as well as everyday PowerPoint users a host of new content authoring features. "

Joe