Based on the information you provided, it is possible that the folder you added to the Trust Center may not be a "trusted location" for Microsoft Office applications. Even if you added the parent folder and its subfolders to the Trust Center, there are certain directories that cannot ever be trusted, such as the temporary folders for the system, for each user, and for Internet Explorer.
Another possible reason for why the Trust Center change is not fixing this issue is because the issue may not be related to Trusted Locations. The error message "Microsoft Office has identified a potential security concern" may indicate that there is a problem with the file that may pose a security risk. This issue could be due to a malicious file or a damaged file.
One way to work around this problem is to move the file to a trusted location. Any file that is moved to a trusted location can be opened without being checked by the Trust Center. However, it is important to note that files from the Internet and from other potentially unsafe locations may contain malicious content. To help protect your computer, Office applications open files from these potentially unsafe locations in Protected View.
If moving the file to a trusted location does not solve the problem, you may want to consider other options to fix the issue. One option is to add the specific URLs for the Dropbox files to the Trusted Sites list in Internet Explorer, which can help to reduce the level of security warnings in PowerPoint.
Another option is to use a digital signature to sign the VBA code in the PowerPoint presentation. Signing the VBA code indicates that the code is trustworthy and has not been tampered with. This can help to lower the security warning levels and prevent the "Microsoft Office has identified a potential security concern" error message.
In summary, the Trust Center change may not be fixing this issue because the folder you added may not be a trusted location, or because the issue may not be related to Trusted Locations. Moving the file to a trusted location or adding the specific URLs to the Trusted Sites list may help to reduce the level of security warnings. Additionally, using a digital signature to sign the VBA code can help to lower the security warning levels and prevent the "Microsoft Office has identified a potential security concern" error.