Why doesn't iPhoto show up in Spotlight search results?
Try rebuild index  

From the Apple () menu, choose System Preferences.
Click Spotlight.
Click the Privacy tab.
Drag a folder or an entire volume (your hard drive) to the list.
If prompted for confirmation, click OK.
Remove the item or volume you just added to the list by clicking
it and then clicking the minus ("-") button.
Close Spotlight preferences.
Spotlight will re-index the contents of the folder or volume.  



You can also use the command line to rebuild Spotlight’s index.
Open the Terminal application and enter the following command:  

sudo mdutil -E /


Authenticate with your administrator password,
and a message appears indicating that the index will be rebuilt.
Spotlight rebuilds the index of your hard disk.
You can track the rebuilding progress by clicking the Spotlight menu.