Amen! Excellent point Scarlet. Importing is not embedding.
You can embed a flash file into a page, that is basically your PPT. Or you can embed individual screenshots of your PPT into individual lesson pages (I have a hacked localhost which automates thisprocess in 1.9 for 200 images).
But alas, converting a PPT into lesson pages can be very frustrating. I just wish we would drop the Import PPT idea and move to importing a series of text pages (similar to GIFT files) and importing a series of image files at any point in the lesson.