iPhoto not opening on Time Capsule

Hi all! I'm new to this so be nice, lol! So, a few months back I bought the Time Capsule, transferred my entire iPhoto library to it, and I was able to open my iPhoto library through Time Capsule with no problems. It ran a little slow, but no big deal. Out of the blue, when I click on my Time Capsule to open up iPhoto, it opens to the grey screen of iPhoto (no pictures) and then it stops responding to where I have to force quit the application. I have no idea what happened?! I've tried rebooting my computer, running the disk utility, still no help. Any suggestions would be greatly appreciated!!!