How to: Edit slides in Outline view.
Solution:
Go to Outline view, and position the cursor in the location to edit.
1) If not in 'Outline' view, select 'Outline' from the 'View' menu. (The presentation changes to Outline view.)
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.