I have a problem of spurious space, but I can't find its origin.
Here is my MWE:
\documentclass{beamer}
\begin{document}
\begin{frame}{Dimensions et boites}{Commandes de manipulation des boites}
\parbox[c][.3\textheight][t]{\columnwidth}{%
% \mbox{}%
\only<+>{%
\begin{itemize}
\item Exemple:
\end{itemize}
\parbox[c][.15\textheight][c]{\columnwidth}{%
\centering\fbox{exemple}\raisebox{0pt}{\fbox{exemple}}\fbox{exemple}%
\vphantom{\raisebox{-1ex}{\fbox{exemple}}\raisebox{\totalheight}{\fbox{exemple}}}
}%
}%
\only<+>{%
\begin{itemize}
\item Exemple:
\end{itemize}
\parbox[c][.15\textheight][c]{\columnwidth}{%
\centering\fbox{exemple}\raisebox{1ex}{\fbox{exemple}}\fbox{exemple}
\vphantom{\raisebox{-1ex}{\fbox{exemple}}\raisebox{\totalheight}{\fbox{exemple}}}
}%
}%
\only<+>{%
\begin{itemize}
\item Exemple:
\end{itemize}
\parbox[c][.15\textheight][c]{\columnwidth}{%
\centering\fbox{exemple}\raisebox{\totalheight}{\fbox{exemple}}\fbox{exemple}
\vphantom{\raisebox{-1ex}{\fbox{exemple}}\raisebox{\totalheight}{\fbox{exemple}}}
}%
}%
\only<+>{%
\begin{itemize}
\item Exemple:
\end{itemize}
\parbox[c][.15\textheight][c]{\columnwidth}{%
\centering\fbox{exemple}\raisebox{-1ex}{\fbox{exemple}}\fbox{exemple}
\vphantom{\raisebox{-1ex}{\fbox{exemple}}\raisebox{\totalheight}{\fbox{exemple}}}
}%
}%
}
\end{frame}
\end{document}
The \vphantom construction is here to make no vertical shift between the 4 baselines.
The first slide of the frame is slightly left shifted in comparison to the next 3, as shown on the picture below, resulting a bad looking animation.

\fbox{exemple}(second, third and last slide)? – Qrrbrbirlbel Mar 7 at 17:01