Changing it in the preferences won't change the objects that are already in your project, only new ones that you insert. Did you change the objects on the timeline. If you click on the object in the timeline and select Control E on your keyboard, the object will go the the End of the slide or you can change it in the Properties panel under the Timing tab to show for rest of slide.
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Re: Text Caption disappears after 3 seconds even though default is set to keep for slide duration.
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