It's been removed as Apple is no longer adding optical drives to it's computers. So to burn photos (not iPhoto compatible mini libraries) to a disk you need to export them to a folder on the Desktop via File ➙ Export ➙ File Export and burn that folder to disk via the Finder.
iPhoto 9.5 will not natively read disks created by previous versions.
The following is from this Apple document which describes how to convert the mini libraries on those disks so iPhoto can view them: iPhoto 9.5: Using iPhoto libraries saved to CD or DVD
Learn how to use iPhoto libraries that you saved to CD or DVD in earlier versions of iPhoto.
In iPhoto 9.5 you can use an earlier iPhoto library that you saved to CD or DVD. To do this, first copy the library to your hard drive. Then:
- If your iPhoto library on your CD or DVD was created in iPhoto 8.0 or later, iPhoto 9.5 can upgrade your library when you double-click to open it.
- If your iPhoto library on your CD or DVD was created in iPhoto 7.0 or earlier, you will first need to use the iPhoto Library Upgrader tool to prepare it for iPhoto 9.5.
UPDATE: Just went thru the process and the iPhoto Library Upgrader converted the library into a working library that iPhoto could open. However, if you want to import any of those photos into your working library you'll have to use the paid version of iPhoto Library Manager to copy the Events or album you want from the converted library into your working library. An extra 2 steps that we didn't have to do previously.
OT