I have the same problem - did you find the problem?  Powerpoint 2000.  Here is what was in the event log:

Thanks! Mark Woodbury

ExceptionEvent Timestamp="2/18/2008 10:05:05 PM" Category=" General" Priority="0" EventId="100" Severity="Error">
<Title>Screen Monkey Exception Handling</Title>
<Message> HandlingInstanceID: f0005785-e757-4046-bd59-861b07256aac
<Exception>
  <Description>An exception of type 'ScreenMonkey.Clips.ClipException' occurred and was caught.</Description>
  <DateTime>2008-02-18 16:05:04Z</DateTime>
  <ExceptionType>ScreenMonkey.Clips.ClipException, ScreenMonkey.Clips, Version=3.0.0.0, Culture=neutral, PublicKeyToken=b94e2ad8c1503c98</ExceptionType>
  <Message>Unable to open PowerPoint presentation!</Message>
  <Source>ScreenMonkey.Plugin.Clips.Standard</Source>
  <HelpLink />
  <Property name="Data">System.Collections.ListDictionaryInternal</Property>
  <Property name="TargetSite">Void OpenPowerPoint()</Property>
  <StackTrace>   at ScreenMonkey.Plugin.Clips.Standard.PowerPointClip.OpenPowerPoint()
   at ScreenMonkey.Plugin.Clips.Standard.PowerPointClip.OnLoadClip()
   at ScreenMonkey.Clips.ClipMediaBase.LoadMedia()</StackTrace>
  <additionalInfo>
    <info name="MachineName" value="MARISSA" />
    <info name="TimeStamp" value="2/18/2008 10:05:05 PM" />
    <info name="FullName" value="Microsoft.Practices.EnterpriseLibrary.ExceptionHandling, Version=3.1.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" />
    <info name="AppDomainName" value="ScreenMonkey.exe" />
    <info name="ThreadIdentity" value="DOMAIN\mwoodbury" />
    <info name="WindowsIdentity" value="DOMAIN\mwoodbury" />
  </additionalInfo>
  <InnerException>
    <ExceptionType>System.AccessViolationException, mscorlib, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089</ExceptionType>
    <Message>Attempted to read or write protected memory. This is often an indication that other memory is corrupt.</Message>
    <Source>Interop.PowerPoint</Source>
    <HelpLink />
    <Property name="Data">System.Collections.ListDictionaryInternal</Property>
    <Property name="TargetSite">PowerPoint.Presentation Open(System.String, Microsoft.Office.Core.MsoTriState, Microsoft.Office.Core.MsoTriState, Microsoft.Office.Core.MsoTriState)</Property>
    <StackTrace>   at PowerPoint.Presentations.Open(String FileName, MsoTriState ReadOnly, MsoTriState Untitled, MsoTriState WithWindow)
   at ScreenMonkey.Plugin.Clips.Standard.PowerPointClip.OpenPowerPoint()</StackTrace>
  </InnerException>
</Exception></Message>
<Info Machine="MARISSA" ApplicationDomain="ScreenMonkey.exe" ProcessId="2308" ProcessName="C:\Program Files\Screen Monkey\ScreenMonkey.exe" ThreadId="2040" ThreadNam=""/>
<ExtendedProperties> </ExtendedProperties>
</ExceptionEvent>