I have not been able to successfully launch my nef (nikon) raw files from iPhoto to the Photoshop CS or CS2 camera raw plug-in. I first changed preferences, quit and relaunched, double clicked the thumbnail (as well as dragging the thumbnail to the app icon in the Dock) but this converts the data and opens the file as a JPEG in PS. Also tried Share >Export, selected PS and PS2, clicked OK, looked like something happened, then, nothing... I'm running OS 10.4.1, just downloaded the newest update for iPhoto. Hmmm.
Any help would be appreciated.