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1 year later, still no solution. Contacting Microsoft yielded little more than a "yes, that is funny." They explained that the measurements of objects are stored in EMU's. When PowerPoint renders them for display, the conversion to inches is rounded, causing it to disalign from the grid.
So a 3-year old product from a multi-billion dollar company still doesn't have a minor issue fixed from 3 years ago? Come on Microsoft.
I suspect they will not bother fixing something that only a minority of users will ever notice, and most of them will not care very much.
Let me put it another way: why should they fix it. Will this bug stop you, or anyone else, from buying MS office? If not, what have they got to gain by fixing it?