Photoreading, from what I remember, is a 3 step process. Here's what you do in a nutshell (well, actually, you don't need to be in a nutshell. It's a figure of speech...work with me people)
1. Imagine an orange behind the nape of your neck (or any round circular object, why? I forget, but they make it a point that you do this)
2. Flip through the book really fast, 'absorbing' each page.
3. Do a second pass at the book, going slower, skimming and picking up headings and any words or phrases that grab your interest.
4. A third pass doing a yet even slower skim, but now actually reading in a fast way.
5. Optional 4th pass, actually reading the book.
Theory has it with each pass, your brain solidifies the information it grabbed from the first pass (your subconscious actually took a 'photo' of each page)
Did it work for me? I can't really say, but I am skimming through net articles a bit faster.