If I hover the mouse over the slide pane and use the scroll wheel to scroll down, it works as expected. If I scroll up, rather than moving a few slides, it always goes all the way back to slide 1. This makes navigation really irritating.
Correction: this only happens AFTER you scroll down. So, if you click a slide and scroll up, it scrolls up. If you click a slide and scroll down, then try to scroll up, it returns to slide 1.
I can't reproduce the problem in 3.5.4 with Ubuntu 12.04 x86_64. Have you tried in a newer version if it is also broken there? And can you tell which Linux-distro and version you are using?
At the time I noticed it, I was using Fedora 16. I no longer have that computer, so I'm afraid I can't add information. Sorry. For what it's worth, though, on my gentoo system with libreoffice 3.5.6.2, it behaves normally.
set the bug to solved as it isn't reproducable anymore.