Please answer these questions before submitting your issue. Thanks!

1. What version of Go are you using (go version)?
   go version go1.6.2 darwin/amd64
2. What operating system and processor architecture are you using (go env)?

GOARCH="amd64"
GOBIN=""
GOEXE=""
GOHOSTARCH="amd64"
GOHOSTOS="darwin"
GOOS="darwin"
GOPATH="/Users/peggyli/go"
GORACE=""
GOROOT="/usr/local/Cellar/go/1.6.2/libexec"
GOTOOLDIR="/usr/local/Cellar/go/1.6.2/libexec/pkg/tool/darwin_amd64"
GO15VENDOREXPERIMENT="1"
CC="clang"
GOGCCFLAGS="-fPIC -m64 -pthread -fno-caret-diagnostics -Qunused-arguments -fmessage-length=0 -fno-common"
CXX="clang++"
CGO_ENABLED="1"

1. What did you do?

Create a .slide file with the following contents (taken from example on https://godoc.org/golang.org/x/tools/present) and run with the present cmd tool:

Test Title
Name

* Title of slide or section (must have asterisk)

Some Text

** Subsection

- bullets
- more bullets
- a bullet with

*** Sub-subsection

Some More text

  Preformatted text
  is indented (however you like)

1. What did you expect to see?
   Expected the 1.1 Subsection heading to come between Some text and the itemized list, like in the file. Tested on recent versions of Chrome, Firefox, Safari to remove possibility of browser-specific issue or rogue extension.
2. What did you see instead?
   

It's unclear what the expected rendering is; I checked golang/talks and davecheney/presentations, but the subsection level (**) doesn't appear to be widely used.