Does Home Sharing work with remote iPhoto Library?

I recently moved my iPhoto library from my local hard drive to an external hard drive. I am using a MacBook Pro. I have discovered that the Apple TV cannot see my photos...Apple TV can see other media like movies, music, etc....but not photos. I suspect this has something to do with moving the iPhoto Library to the external hard drive. Another symptom I see is that when I go to iTunes and File>Home Sharing and click on Choose which photos to share...the pane that pops up just sits there and spins....like it cannot find or load the library. Am I trying to do something that is not supported? Anyone got any insight or advice?

Thank you