got it working by editing stconvservices.properties Howard D Greenberg 23.Aug.06 02:30 PM Lotus Notes Online Meeting Center/Meeting Room 7.5Windows NT/2000
I got it working by editing stconvservices.properties to be the actual dns name instead of 127.0.0.1. Restarted the server and created a new meeting with a ppt presentation. The slides tab appeared when the meeting started.
This might be a good thing to technote. I have two IP addressess on this computer and I assume the loopback address was not pointing to the Domino configuration.