Iphoto '11 - calendar "all pages" view is blank

Question

iphoto 9.2.1
os x 10.7.2
First time using iphoto to create a calendar - my wife has made a few items in the past.  I haven't had much trouble creating it.  However, the "all pages" view does NOT display the page images.  Also whenever iPhoto is in that view for very long the CPU utilization of iphoto cranks up to over 600%.
Inspite of the image above -- the calendar is done.  The calendar preview is correct and when i double click on each "invisible" page, the page pops up as expected.
What is really strange is if you click on one of the "invisible" pages and try to drag it, iPhoto will render the page image.
Carlos

Answer 1

First  make a temporary, backup copy (if you don't already have a backup copy) of the library and try the following:
1 - delete the iPhoto preference file, com.apple.iPhoto.plist, that resides in your
     User/Home()/Library/ Preferences folder.
2 - delete iPhoto's cache file, Cache.db, that is located in your
     User/Home()/Library/Caches/com.apple.iPhoto folder. 
Click to view full size
3 - launch iPhoto and try again.
NOTE: If you're moved your library from its default location in your Home/Pictures folder you will have to point iPhoto to its new location when you next open iPhoto by holding down the Option key when launching iPhoto.  You'll also have to reset the iPhoto's various preferences.
If that doesn't fix it  try the following:
launch iPhoto with the Command+Option keys held down and rebuild the library.
select the options identified in the screenshot.
Click to view full size
Happy Holidays