Ok, all of the Photostream pics are back in iPhoto now. And now the saved search is even worse. Only one photo shows up in the search.
I don't know what this has to do with it, but when you highlight the files and right click and Get Info (or command+i) the More Info sections are different. The only one that shows up in my saved search has lots of information from the camera in it. See that here: http://d.pr/i/6eHv. And all of the other ones have *no* info in the More Info section. See that here: http://d.pr/i/f4M8
That's the only difference. It's like they aren't really files to search. So if you search those individual folders you won't find any files in them, even though there *is* a file in there. But if you do a search of the folder that contains the one photo that shows up in saved search it will show up.