In PowerPoint 2007 -- and PowerPoint 2010 -- the animation effects are all located on the Animation tab in the Office ribbon. To make text fly in, you simply need to select the text and choose ...

PowerPoint 2007 has WordArt tools that let you generate text not only in a half-circle, but in all sorts of rings, waves, slants and fades so you can morph your words into whatever shape you envision.