To re-install iPhoto
1. Put the iPhoto.app in the trash (Drag it from your Applications Folder to the trash)
2a: On 10.5: Go to HD/Library/Receipts and remove any pkg file there with iPhoto in the name.
2b: On 10.6: Those receipts may be found as follows: In the Finder use the Go menu and select Go To Folder. In the resulting window type
2c: on 10.7 they're at
A Finder Window will open at that location and you can remove the iPhoto pkg files.
If you purchased an iLife Disk, then iPhoto is on it.
If iPhoto was installed on your Mac when you go it then it’s on the System Restore disks that came with your Mac. Insert the first one and opt to ‘Install Bundled Applications Only.
If you purchased it on the App Store or have a Recent Mac you can find it in your Purchases List.
I'm having the same problem. I had iPhoto '09, but I haven't been able to get it to sync with my iPhone, so I can't download my photos. I figured upgrading to iPhoto '11 would fix that, so I bought it through the app store and installed it and got this error. I have tried everything (including your exact steps) 10 times, and no matter how many times I delete all of the files and reinstall it I get the same error. I am running OS 10.7.3 on a Macbook Pro and all of my software is up to date. I have also restarted multiple times, but nothing has helped. Any other solutions?
iPhoto cannot be opened because of a problem.
Check with the developer to make sure iPhoto works with this version of Mac OS X. You may need to reinstall the application. Be sure to install any available updates for the application and Mac OS X.
Then this is under report:
Process: iPhoto 
Version: 9.2.3 (9.2.3)
Build Info: iPhotoProject-629052000000000~2
App Item ID: 408981381
App External ID: 7243044
Code Type: X86 (Native)
Parent Process: launchd 
Date/Time: 2012-05-06 15:22:43.400 -0500
OS Version: Mac OS X 10.7.3 (11D50d)
Report Version: 9
Sleep/Wake UUID: A08985FA-BF7B-4E46-886F-FB3A1A3858CA
Interval Since Last Report: 52514 sec
Crashes Since Last Report: 5129
Per-App Crashes Since Last Report: 12
Anonymous UUID: 7B209349-65DF-4384-839E-46C0316636C4
Crashed Thread: 0
Exception Type: EXC_BREAKPOINT (SIGTRAP)
Exception Codes: 0x0000000000000002, 0x0000000000000000
Application Specific Information:
dyld: launch, loading dependent libraries
Dyld Error Message:
Library not loaded: /Library/Frameworks/NyxAudioAnalysis.framework/Versions/A/NyxAudioAnalysis
Referenced from: /Applications/iPhoto.app/Contents/Frameworks/iLifeSlideshow.framework/Versions/ A/Frameworks/iLifeSlideshowProducer.framework/Versions/A/iLifeSlideshowProducer
Reason: image not found