In Keynote 2, you can combine text characters with ligatures if the font you're using supports this feature. However, some individual characters in a ligature combination, such as "fl" (as in "flower") and "ff" (as in "caffeine"), will move together as a single entity when you apply certain character effects, such as Expand or Typewriter.
This is normal. If you don't want this to happen (you want each character to behave independently), set the font to not use ligatures (from the Font menu, choose Ligature, then Use None).