Are PowerPoint documents that have 2007 templates compatible in 2003?

Maybe I can clarify this a little bit better than the question states...

A user here has Office 2003.  She is working with other users who have 2007.  I have installed the 2007 Compatibility Pack on her PC so she wouldn't have any problems with viewing the newer documents.  Is there a compatibility issue with templates in PowerPoint 2007 and 2003 regardless of the compatibility pack?  Also in 2003 can you create templates?
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my understanding is that office 2007 applications save in a new format that requires the compatibility pack. but the 2007 users can save their work as 2003 version to allow for that backwards compatibility. and the templates should work
Jscott82305Author Commented:
But even if the 2007 user saves as a 2007 doc won't the compatibility pack come in to play with the 2003 user?  Is this supposed to eliminate ALL issues they are aware of?
There are many "compatibility" issues.  Basically 2007 has the ability to make a presentation backward compatible to 2003, but there will be sacrifices, most notably SmartArt and Graphs.  The Compatibility Pack is only designed to allow users to share and nominally edit presentations between the 2 versions while your office is in the process of ungrading.
PowerPoint 2003 can make templates:
But you cannot make a PowerPoint 2007 theme with PowerPoint 2003:

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Jscott82305Author Commented:
Thanks for your help!
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