Apple has released an update for iPhoto bringing the software to version 4.0.2. Apple says the update fixes some "minor issues," and includes a new feature that checks for updates. From Software Update:
iPhoto 4.0.2 addresses minor issues with Smart Albums and European books, and provides notification when new versions of iPhoto are available.
You can find the update through Software Update in Mac OS X, and the download weighs in at 7.1 MB. You can find more information on iPhoto at Appleis Web site.