Text boxes in PowerPoint 2007 take two forms: boxes that wrap text and boxes that don't. When boxes wrap text, they insert line breaks as you type, maintaining a fixed width. When boxes don't wrap ...

PowerPoint 2007 has WordArt tools that let you generate text not only in a half-circle, but in all sorts of rings, waves, slants and fades so you can morph your words into whatever shape you envision.