iPhoto library stream to Apple TV 2nd gen

I seem to be getting mixed responses from Apple store staff and what I have read, but it may be I'm clueless on this:

Can I stream whatever is in my iPhoto library, such as events, albums, slideshows, etc., to ATV 2 if the iMac is on and iPhoto is running?

Using Spring 2011 imac with latest Lion, latest iPhoto '11. I currently have a ATV 1st gen that works fine, but of course that process is to sync selected albums or whatever, to the ATV 1 HD up to its 40gb capacity.

I understand that the ATV 2 will stream to it whatever is in my PhotoStream (I guess up to the 1000 image limit). But if this is the only way to "get" photos to the ATV 2, must I then drag the albums I want to view into the Photostream folder in the left side column up to the 1000 image limit.

While I'm at it, along this same lines, can I stream what is in my iMovie library to ATV 2?