Unfortunately there isn't a way to accomplish that. At least, not directly.
I can think of a workaround though. From your template, note the dimensions of the placeholder. Now open a second instance of Captivate. Create a project by importing the PowerPoint at the dimensions you noted earlier.
Then you could copy/paste from one instance to the other.
I'm not sure if that would speed things along or be any better than what you already described, but it's the best I can think of without having consuming my first cup of java for the day.
Additionally, you may wish to consider submitting this as a product suggestion to the development team. The avenue is known as the Wish Form. There is a link to it in my sig.
Helpful and Handy Links
Thanks Rick, that's what I thought. I am curious about another aspect, I want to
be able to watch the slide show and the video, which is running fine, however, my current
project is 1024 x 582. Yeah weird size, it is because I have the video (320 x 240) along side the .ppt slide image. Anyway since the slide is not at the 976 size I am trying to make a transparent button that when you click on it, it will bring up a larger image of the slide and then of course some how exit out of that slide and continue watching the show. I have been scouring the Internet but have come up clueless at the moment.
Thanks for your reply and any further help, I will certainly make the suggestion along with the timeline. I do a lot of work as an editor having worked with AVID, and Premiere CS4 a lot, the timeline in captivate as well as Flash should be more like that of a NLE especially since a lot of video is coming to the web these days. If nothing else maybe they could offer that as an additional feature, many programs have several different ways of displaying timelines why should this be different. I also don't care for the way you move around the timeline. Again I am comparing it to an NLE's timeline.
Anyway thanks for your help it is greatly appreciated, when I get my workflow done for this project I'll post it on the forum for others in case someone wants to do the same thing.