iPhoto Will Not Open after last install version 6.05 for RAW Compatibility. How can I fix this?

I finally gave in to install the last update to iPhoto (Digital Camera RAW Compatibility Update Version 6.05) and have not been able to open iPhoto since. All I get is a little box in the middle of my screen that says "Closing Library". I have closed iPhoto, trying to reboot it, but to no avail I can't seem to get it to run or even open. If I could uninstall it I would. How do I resolve this??? HELP!