Did you by chance record using Full Motion Recording? (FMR) If so, it's possible that your actions ended up as a single segment on one slide. You would be able to tell this easily by looking at the slide in the Film Strip. Do you see a camcorder icon?
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No, I checked. I am recording in Recording Mode - Demonstration and NOT FMR.
Any other ideas why this is happening?
Another thing to check is whether you have the manual recording mode icon selected. As shown in the screen shot below.
If that is the case then you will need to select the second recording icon known as the Automatic Recording Mode.
Let us know if this doesn't solve the problem.
Regards - Mark