iPhoto 11 can't open preferences

[SaSaSushi]

I upgraded to iPhoto 11 and didn't experience any problems with loss of photos. I cannot, however, access the preferences. Clicking on preferences or using the keyboard shortcut (cmd - ,) does nothing. I've tried deleting the com.apple.iphoto.plist file and even reinstalling iPhoto to no avail.

In console.app when attempting to open preferences I get the following error:

iPhoto11659 *** -NSPlaceholderString initWithString:: nil argument