What happened with me is that I was running iPhoto ’09 on a Hard Disk that was going bad. I decide to migrate the OSX boot to another volume, and then did a ‘migration’ of all my users, docs, etc to the new hard disk.
When I went to boot iPhoto though, I got the error with _ILiPhotoShowTrashAlbumAttributeKey. I then did a software update, which loaded iLife 09 Browser Plug-ins (for some reason that had to be reinstalled) and after that, viola–iPhoto launched.
I think the problem was my old HD that had the boot system had the Browser Plug In, but when I stood up the new volume from the OSX Install DVD that broswer plug-in didn’t migrate over (or needed to be reinstalled)