You can adapt the code above so that the shape is invisible

Sub DimAndGo(oShp As Shape)
oShp.Visible = msoFalse
ActivePresentation.SlideShowWindow.View.GotoSlide 3
End Sub

Set an action setting on the shape to Run macro "DimandGo"

A problem you will find is once invisible its not that easy to get it back
unless you write more code to reset it ti msotrue. The original code to
change colour is safer.

Patrick, if you are using trigger, you can have the shape staying there for a
quick moment before it disappear as well. You will need to make use of delay.
If you are using Emphais (Transparency) effect, set the transparency effect
to 100%.
Alternately, use Exit (Disappear) effect works too.

Next, double click on the effect and go into the timing tab.
Under timing, there is a delay where you can set 'x' seconds before the
effect starts to trigger itself.
For instance, if you set it to 2 seconds, when you click on the shape, it
will jump into another slide. Then, when you hyperlink back to that slide,
the shape will stay there for 2 seconds before it disappear.

No, you do not need any special event handlers. All you need to do is set
the action settings for any shape to DimAndGo. It automatically takes care
of the shape that was clicked.

Yes, the VBA can be written so the shape is not visible at all when you get
back. If you want to make it invisible, you need:

oShp.Visible = msoFalse

As John pointed out, the problem with making shapes invisible is making
them visible again. The way I generally solve this is with a procedure that
I link to a button on the first slide. That procedure is used to set
everything up the way I want it (including hiding or unhiding shapes and
initializing variables and resetting shape colors). You can see an example
of this at my site

http://www.PowerfulPowerPoint.com/

We seem to be having a temporary problem with our site this morning, so if
that link doesn't work, you can go to:

http://webdev.loyola.edu/dmarco/education/PowerfulPowerPoint/

The simplest example is Example 5.5. This actually hides shapes in my
Initialize procedure because I don't want the stars to be visible when you
start, but you could easily have it unhide things (changing False to True).
The problem is that you have a whole bunch of shapes that you will want to
unhide. You could either list them one by one in an Initialize procedure,
or you could write a simple routine to unhide everything:

Sub UnhideItAll()
   Dim oSld As Slide
   Dim oShp As Shape
   For Each oSld in ActivePresentation.Slides
       For Each oShp in oSld.Shapes
           oShp.Visible = msoTrue
       Next oShp
   Next oSld
End Sub

This should unhide EVERY shape in the presentation, but I just scribbled it
down off the top of my head without testing so I don't guarantee it works.

--David