Well the answer is no, you can't change orientations like that in PPT.
But unless you're going to print out your presentation, your picture is
going to be just as you mention: half size on screen during a slide
show. Might as well have a slide with a black background and a
half-sized version of the your picture in the middle, it will look just
fine.
If you are going to print out the presentation and not display it on
screen, then pre rotate it before bringing it into PowerPoint. A good
program for that is the ever popular GraphicConverter.
(Lemke, Lemke he's our man! If he can't convert it, no one can!)
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