Photos Imported to iPhoto 11 from iPhone 4S Color Errors

Hi,

I'm seeing bands of colors, almost looks like various color filters were introduced into the pictures. They look normal in PhotoStream. I think common element may be that they were shot in HDR.

I've tried selecting in iPhoto edit and reverting to original - no luck.

Any suggestions as to why this is happening and how to recover true colors?

Thank you.