Hit up Software Update....
What's New in Version 9.2.3
Improves overall stability
Addresses an issue that could cause iPhoto to quit unexpectedly on systems with multiple user accounts
Included in Versions 9.2 to 9.2.2
Photos can now be deleted from Photo Stream
Addresses compatibility with iCloud and iOS 5
Left and right swipe gestures can now be used to navigate between photos in Magnify (1-up) view
Previously imported photos are now displayed in a separate section of the Import window
Book/calendar themes and card categories can now be selected using a pop-up menu in the carousel view
Resolves an issue that could cause some pages of books to print incorrectly
Rebuilding a library now correctly preserves saved slideshows and books
The update is recommended for all users of iPhoto '11.