PowerPoint 2002 (XP) introduces more effect options than those present in the previous versions. Using those additional effect options, we would highlight bullets on the slide one at a time on each mouse click.
Step 1: Create a bulleted list
For the purpose of the tutorial, we would use a slide with Title and Text layout. Fill the Text placeholder with some bulleted items
Step 2: Apply the Change Font Color emphasis effect on the Text placeholder
Set the Change Font Color entrance effect on the Text placeholder:
Step 3: Set the emphasis effect to occur on mouse click only
In this last step, we would setup the emphasis effect to apply to individual bullets one at a time:
Start the slide show. The bullets will show one at a time on each mouse click. The presentation file that demonstrates these steps is available here.