Gabe,

You can hyperlink to any specific slide in another prsentation, continue for
as many slides as you want and press Esc to return to the current slide in
the original presentation. The hyperlink will pick up the most current
version of the presentation (if that's what you meant by updating).

Select an object and choose Insert > Hyperlink. In the Insert Hyperlink
dialog box, choose Existing File or Web Page and navigate to the
presentation. Then click the Bookmark button and you'll be able to choose a
specific slide (it helps if they have titles).

Let us know if this is what you need.

Ellen Finkelstein
Author of How to Do Everything with PowerPoint 2007
www.ellenfinkelstein.com