Restoring Backup--lost my I photo library

I downloaded videos from a flip video. I said yes when it asked if I wanted to create a new library. Later I found ALL my previous pictures/events gone.

I put a message in the IPHOTO discussion and received instructions to Restore the previous backup from Time Machine. "Help" in Time Machine was helpful....When I go to the menu...I get several desktops and many backups listed on the right. They are all white characters.. Does this mean I have lost ALL my previous pictures/events? ls there a way to find them?

Thanks,