I sort of agree with Alex and Raleigh in asking the question of, yeah, so what? Or asking, what can you really do with this? It is impressive and all, it would certainly be a fun way to get a smile on friend's faces at parties or if you're a magician you could pull this off as one of your tricks.
So yes - PhotoReading is certainly more of something you do to understand the material. Your mind is not just taking a picture - well, it IS doing that, but you are not consciously visualizing that picture - the information is being processed preconsciously, out of your immediate awareness. Your mind will spend time understanding the material so that it makes things easier for you upon returning to it.
-Scott Lee