Activating is bringing the information to a conscious level. No, you're not going to consciously know any of it right after the PhotoReading step. I don't think you understand how the system works.
The PhotoReading step takes the text into your long term memory, at a subconscious level. This means that you do know it, just not consciously. Your mind is constantly sorting out things around you, and as it's doing so, it can't make you consciously aware of every single tiny thing that it picks up. The subconscious can focus on up to 20,000 things at once, where as your conscious, normal, waking state is only able to do about 7 things at once. Activating uses the fact that it's in your subconscious to accelerate the process, merely bringing already-existing knowledge, into your conscious awareness.
-youngprer
geocities.com/doc5587
pub117.ezboard.com/btheworldofyoungprer