A family of Microsoft presentation graphics products that offer tools for creating presentations and adding graphic effects like multimedia objects and special effects with text.
Sorry, I'm not familiar with "Live Mode", I don't see any reference to that in PowerPoint. Perhaps you have an add-in installed that creates that, or perhaps you're thinking of Slideshow mode.
Using a dual-monitor setup with presenter view turned off, I can edit the presentation on one monitor while displaying it in Slideshow mode on the other. Edits show up in the presentation immediately. Perhaps the software you're using for sharing the file is interfering with that.