There is no built-in tool for highlighting text in PowerPoint 2010. However, there is a workaround to highlight your PowerPoint text using the Text Highlight Color within Microsoft Word. Now, if you come across a situation where you have number of slides and you need to similarly highlight more text. Working repeatedly with Word for all text highlighting across so many slides will be time consuming. Fortunately, you can tackle this issue easily by using Format Painter within PowerPoint, which lets you copy the text highlight and also helps in removing the highlight altogether.
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