$fp = fopen('slideshow.txt','r');
    while(true) {
        $line = fgets($fp,256);
        if(!feof($fp)) {
            list($file,$text) = split('[[:space:]]+',$line,2);
            echo $text."<br>\n";
        } else break;
    }

and slideshow.txt contains:

title.php       Scripting the Web
agenda.php      Agenda
intro.php       Introduction
history.php     History
numbers.php     Usage Numbers

Output:
Scripting the Web 
Agenda 
Introduction 
History a 
Usage Numbers 

Note the extra 'a' on the History line.  This character changes on every reload.  Smells like an off-by-one somewhere.