In earlier versions of PowerPoint there was a screentip feature that enables you to enter a custom text on an hyperlink. You can configure ScreenTips as follows.
Add an Hyperlink ScreenTip in powerpoint 2010
First create an Hyperlink and look for the ScreenTip… button.
Now, set the Hyperlink ScreenTip text.
When you are done, click OK and the screen tip will be created.
Screen tips on internal links do not work in 2010. It is due a bug but Microsoft introduced a hotfix. At least this problem was reported on Windows 7 and Vista. You can learn more about the hotfix here.
Adding Hyperlink ScreenTips in powerpoint 2013
In powerpoint 2013 you can also add ScreenTips to your Hyperlinks.