Mellowyellow,
It all depends on what you mean by highlighting.
Do you mean a tool like Word has. In that case, in show mode, right click
the slide and choose pointer options, there is a highlighter there.
If that is not what you are after, you can draw a circle around the area
yourself and animate it with an entrance effect on click. This can be a
semi-transparent one if you like.
If that is not what you want, post back and we will try to help some more.