There is a workaround out alread mate do the following steps, going to try it myself after work today
Step 1: SSH into the jailbroken iOS device using a client such as FileZilla or CyberDuck. Alternatively, use the iFile file explorer from Cydia to gain quick on device access.
Step 2: Navigate to /System/Library/CoreServices and then scroll to the bottom and open the SystemVersion.plist with a text editor.
Step 3: The .plist file contains <string> tags at the bottom which holds the installed iOS version. Edit the string to read ‘5.1‘.
Step 4: Save the edited .plist file and exit. Respring the device, then open the App Store, search for ‘iPhoto’ and then download.
Step 5: Open up Cydia and search for ‘iPhoto501Fix‘. Install the fix as per any other Cydia package.
Step 6: Respring the device and then run iPhoto app. The application should scan the photo library without issue, providing full access to the application