I am using OOo v2.0, so not sure if it is same for you... But in v2, you can make use of Custom Animation. Choose in menu, Slideshow->Custom Animation...
Lets say you have
1. text1
2. text2
3. text3
as your bulletted list... Select text2 and in the task pane, select Add button in Custom Animation and select Appear... Then, set start button on "On Click". Repeat for text3... I think by default, clicks appear one after the other, if not, in the "..." button, you will have option to set it thus.
Arun