Unfortunately, I'm not that familiar with iWeb, but it apparently has it's quirks.
A quick search of the iWeb support pages on Apple's website finds this:
http://docs.info.apple.com/article.html?artnum=305941
*iWeb: RSS feed may not show all entries of a blog*
Issue
*The RSS Feed for a published blog may not show all the entries.*
*Products affected*
** iWeb*
Solution
*You can have up to 50 entries displayed as part of your blog's RSS feed.*
*1. Go to your blog summary page and open the Blog and Podcast Inspector.*
*2. Click the RSS button in the Inspector.*
*3. In the Blog section, set the "Number of excerpts to show" option to the number you want, up to 50.*
Seems like iWeb is limited in its abilities.
Erik