Joel,

One solution to this problem:
1.) In C:\inetpub\wwwroot create a folder named "Presentation", under that folder create another folder named Presentaion files.
2.) Create another folder on the root (C:\) named "Scripts". Inside that folder create a batch file named WebLauncher.bat and inside the file enter:
SET url="http://localhost/your folder/your documents/"
START "C:\Program Files\Internet Explorer\iexplore.exe" %url%%1#%2

If you are using Powerpoint 2010:
1.) Place a rectangle in your slide and enter the text "View" for simplicity sake.
2.) Right click the rectangle and click "Exit Edit Text".
3.) Click the Insert tab and select "Action".
4.) Click to "Run Program" bullet and in the box either type in the loctation of the file or browse to it. (C:\scripts\WebLauncher.bat "Mydocument.pdf" "Tips"

Note: By placing a rectangle you can fill it so the background color is yellow or any other color you choose.

Hope this helps