Should bullets appear before animations, or animations before bullets?
Here is what I would do:


I would move the ball first. Show them what is happening then use the text to support/explain it.
Only change one thing on the slide at a time. There should be a delay between the ball moving and the bullet being added. Too many things moving is confusing. But one thing moving is a great way to guide someone's eyes to the important information.
Possibly gray out the previous bullets. If you end up with a wall of text then it may be unnatural to dart your eyes from the very top (where the figure is) to the very bottom (where the new bullet is). Putting them side-by-side might help too.


Slide design is an art so don't feel compelled to follow any strict rules. Try it out and see how it works.