I do not think we will se an update to iPhoto or Aperture at all in the near future... at least in its present form. With 10.10 introducing the "Photos" app and iCloud Photo Libraries much like iOS it is time for a paradigm shift in how we think of photography. I see the next gen of iPhoto and Aperture woking much like the apps we see in iOS today. a shell / front end of editing tools that interface with the "Photos" app itself. The applications will no longer have a photo library - they will just work with the iCloud Photo Library storage directly. I think once we get used to it this will be pretty cool since we all work with so many photos and desire the need to have all our images with us as much as possible. I hope they allow us to have separate iCloud libraries though - for Pro and Personal photos. So look for a complete redesign and a completely different way of thinking about photos in OSX - Apple is about to change everything again and revolutionize how we see our images... I for one believe this is going to be great.