iPhoto Time Machine Backups

Hello Support Communities!

Just got my 2011 iMac, and I'm loving it. Connected my G-Drive, and got everything set up.

Because I'm making a jump from Leopard to Mountain Lion, I wanted to play around with my new Mac. I checked out the new Time Machine, and inquired on what apps I could use with it. Checked Finder, iWork, Mail and even Contacts. Everything was looking good. Then I proceded to opening iPhoto, because I find the protection of my precious family photos very important. I enter Time Machine, and instead Finder enters.

Did Apple drop Time Machine support for iPhoto. If not, what can I do?

All replies are appreciated in advanced.