Thanks for this lesson Zach, it worked great in my classroom!
I modified the powerpoint and added a worksheet (mostly so I can reward the students who are actually paying attention/making an effort with participation marks/stickers). Unfortunately, they don't get to do alot of speaking in front of the class, but I make time when they are creating their own phobias to talk to as many students as I can and ask them about their ideas. They loved the videos from the Japanese Fear Factor show. Because I have mild Arachnophobia, and talk a little bit about "learned behaviour" if I have time I show them a 4 minute clip from the end of the movie Arachnophobia because this movie is how I "learned" to be afraid of spiders when I was about 8 years old.
I'll post my files here just in case anyone is curious.
Thanks again for a great lesson in a can.