Pretty sure this is impossible. See quote from Microsoft:
We understand that the intention is for you to customize the right-click menus with custom actions to navigate through the application and perform various tasks, however, right-click menu creation and functionality is not a feature in Power Point 2007. There is currently no upgrade path for previous Power Point solutions that have customized right click menu functionality. All previous Power Point solutions using this functionality will need to implement the Ribbon into their solution to drive user choices
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