This feature was dropped in the 2007 version. Bummer. There are a couple of
"add-in's", but I haven't had much success with them.
I have searched the web and found nothing that wll let me create the
wonderful tranparent backgrounds that existed in 2003 and previous versions.

"Ronsky" wrote:

Not sure why the difference but have you tried saving the object as a
PNG file with transparency and then import the PNG into PPT?
.