"Google Presently" is rumored to be Google's version of Power Point. If it comes to fruition, it will likely be a part of Google Docs. One "trusted tester" sometimes uses what appears to be a garbage filled blog to discuss bugs he finds in projects he tests. One of his latest articles described some steps to reproduce a bug in Google Presently -- giving us a good indication that the product has entered at least some level of external testing.
1. Log in to writely-testing
2. Open a new presentation
3. Insert text above the slide title
4. Observe the text above the slide title is displayed below in view presentation
[via Google Operating System, Thanks Nate!]