It's not that it's impossible. But you really need to understand what you are doing, why, and the consequences.
You basically hack your iPad to fool it into thinking that it has 5.1 installed when it doesn't. This allows you to install iPhoto. You then need to UNDO the hack so that your iPad is correctly back on 5.0.1, otherwise Cydia will remove the jailbreak untether hack the next time it is run because the Corona untether is dependant on 5.0.1. If this happens you render your iPad2 inoperable without a restore, which means 5.1 and no jailbreak...
Unfortunately, the instructions (from another site) that the guys followed to do the hack did not warn them that there would be consequences and that they would need to undo it once they got iPhoto on there.
I never recommend hacks like this to folks that don't understand their jailbreaks well. The iPad2 jailbreak is precious. One fasle move and you lose it as things stand today (this will likely change in the near future, and a restore to 5.0.1 will be possible in the coming weeks / months).
So, it's best not to mess with stuff unless you totally understand what you are doing. If you think you follow what I have said above (i.e. as soon as you get iPhoto on your device you MUST get the hack undone so that the iPad is correctly reporting it is on 5.0.1 again), then go ahead, but it is at your own risk.
Hope that helps