The Microsoft Office blog has an article about Producer for PowerPoint, as well as links to the download page, and importantly to the Office Animation Runtime which you will need if you have PowerPoint 2010 (previous versions installed this along with the application, whereas 2010 does not). What is strange here is that the download page describes this as version 2 with a release date of 29th April 2011, yet the actual download page and file is identical to the version released and announced at the beginning of May last year.
The previous release was really a bug fix version which sorted out compatibility for Office 2007 and 2010, and there were vague claims that there would be new features in some later release, although as always according to policy there were no specifics about software in development.
Producer is a great way to turn a presentation file into a polished multimedia show which anyone can view using their browser. This is great for e-learning, tutorials, or any situation where you want to take something which would normally be delivered in person and make it available to a wider audience.
Oddly enough the download page refers to this as version 2, but the program itself claims (through help > about) that it is build 3.0.3012.0, but the MD5 hash for this file is identical to the year-old one. I’ve had a couple of problems with it – for example if you delete a load of slides from the timeline it expands the last one to fill up the space, and when you try to shrink it back down it takes while for no obvious reason, in my case chewing up one of my four processor cores flat out for a couple of minutes (tip: only add slides when you know you need them rather than all at once to avoid this problem).