The described technique uses the Reflection slide transition, where the two transitioning slides get angled and reflected (kind of like an inside-out Cube transition). The intermediate steps, which you can capture in QuickTime, do indeed have the images angled as well as reflected. It's not ideal (and I sure hope that this is one feature added to KN4), but the technique may do in a pinch.
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Editing the angles of images in pages or keynote
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