rrankin,
Maybe this will help:
http://www.rdpslides.com/pptfaq/FAQ00581.htm

Right click on the text box with the bullet list and select 'Custom Animation'
Select 'Add Effect' > Entrance > Appear
In the window below you will see your object with a green star next to its
name and a little of the text in the object. Under the object is a light blue
bar with two arrows pointing down. Select this. This will reveal a box for
each bullet point. Make sure that for each bullet the 'Start:' option is 'On
Click'