undo red-eye?

Go ahead and click "Done". Then, while the photo is selected, find Photos from the Menu bar, and select "Revert to Original".
You are correct in your assumption as to why you weren't seeing this option.

JB

1. There's no need to duplicate before editing, iPhoto performs all functions - including edits, exports whatever - on a copy of the file. Your Original is always preserved.

2. The Revert to Original command is available for only for images that have been modified.

3. -z (Hold the  key and tap z) is a universal 'Undo' command on the Mac.

Regards

TD

iphoto>edit>undo or the shortcut apple key z. (always a good idea to duplicate the pic you are about to edit.)

hope this helps

Also, remember you can restore the photo to its original state by going to the Menu bar and selecting Photos>Revert to Original.

Hope this is helpful.
JB

revert to original is under iphoto>photos. In the edit menu, you cannot select undo? Is it greyed out? If so, there is nothing to undo at this stage.

hope this helps