Apple has posted an update for iPhoto '08, bringing it to version 7.0.2:

This update to iPhoto addresses issues associated with publishing to .Mac Web Gallery, rebuilding thumbnails, and editing books. It also addresses a number of other minor issues.

The update weights 10.2MB and is available either through the Software Update Utility or through Apple's support web site. It works only with the recently released iLife '08 suite.