I personally do not use the Presenter View, but I do run many presentations in a similiar format – with slideshow on the secondary monitor/projector and PowerPoint in edit mode on the primary monitor.

Just like Presenter View, animations can be problematic. Each slide redraws in the edit mode and while it is updates processing power for animations is reduced. But there are some steps to take to minimize the animation lag.

There is a lot of processing power used with each slide transition if you have:
– Slide preview at 100%
– Both left and right action panes open
– PowerPoint running full frame

I have found better results when PowerPoint runs like this:
– Close the right action pane
– Reduce size of thumbnails in left action pane, or close all together
– Make slide preview 25% (active slide in center)
– Reduce the actual application window to run in a small vertical area

– Troy @ TLC