here is what i have done and observed.
1. created a new user and tried loading, same thing.
2. updated iphoto to latest version.
3. when looking in preview it shows up
4. when looking at thumbnail in finder it shows up
5. when in iphoto, photo is black, however if i click on thumbnail OR when in full mode, i can click on edit and it will show photo (the way it is supposed to look) in full size. but in the little thumbnail slider at bottom still shows as black while showing up in full screen. this is only in edit mode.
any more suggestions? going crazy here, as photos are my lifeline.....