Q: Supported by iOS 8.1

Banner states that iPhoto is not supported by iOS 8. Apple can you please help?

That is unfortunately true.  iPhoto cannot run on iOS 8. You can migrate your iPhoto Library to the Photos.app, see this link:

          Migrating from iPhoto for iOS to Photos on iOS 8

However, the Photos.app will not be able to show your journals and books. But any tags and captions you added will be copied over.  They are not shown, but you can search for them in the search field.