Thank you, Carolyn, for your input.
I did check within System Preferences and the pop up menu was already selected to "OPEN iPhoto" WHEN YOU INSERT A PICTURE CD.
I tried again with CD's that I recall having viewed before and the player just keeps making the beeping sound about 4 times and then ejects the CD.
I am starting to suspect the player is no longer able to read. Admittedly, I have not used it much, so it cannot be overuse. But perhaps not using it enough?