How to: Edit text in Outline view in PowerPoint.
Solution:
Display the presentation in outline view, position the I-beam cursor in the desired location, and make editing changes.
1) Display the presentation in 'Outline' view by selecting the 'View' menu and selecting 'Outline'.
2) Position the I-beam cursor in the desired location to edit. (The cursor changes to a four-headed arrow or a blinking I-beam.)
3) Make the desired changes.