You create a Live Meeting by using the Microsoft Live Meeting 2007 console. Then, you upload a PowerPoint 2003 presentation to the Live Meeting. In this situation, the text in certain shapes of a slide does not display.
To fix this problem, install the following cumulative update:
2433231 Description of the update package for the Windows-based Live Meeting 2007 client: November 2010
Microsoft has confirmed that this is a problem in the Microsoft products that are listed in the "Applies to" section.