Some users have contacted Microsoft support (and found their way to the blog comment feature) to ask for a remedy to the background images issue identified in the KB article relating to our PowerPoint 2003 April 2011 Public Update.
We had mentioned earlier that we intended to make a hotfix available as quickly as possible to address the situation. We have now posted an update to fix this issue. The KB article is here, and the download is here. You can manually download and install or deploy the fix. The new KB number is 2543241.
In our June Public Update release, we will release the update through the Automatic Update channel, where any remaining users will be updated with the changes.