This idea is similar to "Importing PowerPoint Slides with Animations into SMART Notebook", but takes it further.

In many applications making an animated bulleted list, where bullet points appear one-by-one, is easy.

In Smart Notebook, animated bullet points are cumbersome, since:
1) bullet points must be in separate text boxes, or be covered by separate filled rectangles with fade out animations,
2) to edit text-box-bullet-point you must right-click->turn off animation in properties->edit bulletpoint-> turn on animation (>10 clicks)
3) bullet points will easily overlap each other if you first made a list of appearing bullet points and then want to expand a bullet point that is not the last (or alternatively, white fade-out rectangles will not cover expanded bullet point any more).

It would be great if the properties->Object Animation had a choice like "Bullet animation" where clicking reveals the text after each bullet (and the bullets could be transparent when inactive and not when revealed, to show user where to click)

Another more drastic solution would be to introduce an animation control panel. This cold be added as an Add-on that list animation steps, and includes forward and backward control buttons (example: clicking forward button will reveal bullet items or a series of images).